Coworking spaces become more specialized as their popularity grows across Asia

Coworking spaces, also known as shared offices, are proving a hit with companies and their staff across the region. While employers enjoy lower rental costs and flexibility, employees like the opportunity to more easily collaborate with colleagues and the perks the offices typically offer such as free coffee, beer and games.

With major players emerging in Asia’s coworking space like WeWork, Singapore-based JustCo, Philippines-based KMC and Indonesia-based EV Hive, niche providers are emerging to cater for specialised sectors such as technology, fintech and now medtech.

Aardvark Labs, Padang & Co is launching a coworking space called CATALYST in Singapore, with the aim of bringing together medtech and health tech startups that develop products and services to help prevent and cure diseases.

And East Japan Railway Company opened up a co-working space this week that it hopes will connect Japanese and Singaporean tech companies. Another reason for setting up a platform is to help Japanese companies diversify their operations  and conduct market research that will help them expand out of Japan.

Singapore-based Lendlease has launched its own flexible workplace solution called csuites. which focus on enhancing human health and wellness.

‘’Healthy workplaces can result in increased productivity, reduced absenteeism and staff turnover, less accidents, fewer insurance and employee compensation claims. These are all tangible outcomes that can improve a company’s bottom line,’’ says Ng Hsueh Ling, Managing Director, Singapore and Chief Investment Officer, Asia for Lendlease.