Colliers International has released its latest research report which tracked the trends and developments in the Flexible Workspace sector in Singapore.

It expects the positive growth momentum in the sector to power on, underpinned by the entry of operators from overseas markets, and supplemented by aggressive expansion plans of incumbent operators. 

Flexible workspace footprint across Singapore grew 44% year-on-year (YOY) in 2017, with up to 35% YOY growth projected for 2018

Retail-to-flexible workspace conversions should ramp up, w.ith Orchard Road gaining interest among flexible workspace operators.

Top seven players control over 60% of Singapore flexible workspace market.

As competition heats up within the sector, some operators are offering generous sign-on membership incentives.

Further consolidation in the flexible workspace sector is expected, with mergers and acquisitions ramping up over 2018-2020 in Singapore.

Rapid growth of the sector presents attractive opportunity for prospective space users including small- and medium-sized enterprises and multinational corporations.

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