Singapore-based JustCo has expanded to Taipei, securing three new co-working centers in the city. The centers are located at the Xinyi, Songshan and Zhongshan financial districts, and bring the company's portfolio to 32 centers across eight cities.
The expansion follows JustCo's announcement in January that it is entering South Korea and Australia, with the opening of six co-working spaces in Melbourne, Sydney and Seoul.
While it may have been once considered as a fad, co-working spaces are proving to be the biggest trends in the workplaces today. Parts of Asia and Southeast Asia have caught up with the co-working movement.
According to reports, the rapid rise of co-working spaces in Southeast Asia can be contributed to two major factors: the younger startup ecosystem and the heterogeneous nature of the markets within the region.”
Chua Yang Liang, Head of Research at JLL (Jones Lang LaSalle) was quote din media saying, “ Many Southeast Asian governments are seeing the co-working movement as a way to encourage entrepreneurship in their respective countries.”
He further shared that in Indonesia, the local government in Jakarta subsidized two co-working spaces, which are located in Casablanca the Melati Reservoir.
Meanwhile, the Singaporean government has taken a pro-active stance in nurturing technological capabilities in various sectors according to Chua.
“The focus of the government to creative an innovative ecosystem could lift demand for non-traditional workspace such as co-working space. The recent development of a second incubator hub suggests the government’s confidence in the underlying demand for space going forwards,” Chua said.