Smartworks To Buy Singapore Flexible Workspace Firm Workstudio Spaces

02 Jul 2026 CW Team

Upon completion Smartworks' Singapore portfolio is expected to expand to four centres, with its footprint increasing to 76,000 sq ft and total seating capacity exceeding 1,500. This will more than double the company's presence in Singapore over the last two years and reinforce its long term commitment to one of Asia's leading business and financial hubs. The company said Singapore remains a strategically important market supported by strong enterprise demand, a clear flight to quality and structurally healthy operating margins. Existing centres in Singapore have been profitable over the past two years.

Workstudio will complement Smartworks' presence by providing access to a high-demand micro-market, diversifying the Singapore portfolio and broadening the enterprise client base. The deal is expected to broaden enterprise relationships across key business districts and strengthen the company's ability to deliver a consistent enterprise grade managed workspace experience. Smartworks transforms large commercial assets into fully managed enterprise campuses by integrating design, technology and workplace services.

Recently Smartworks leased more than 400 seats at a Mumbai centre to a Japanese NBFC subsidiary under a five year agreement expected to generate rental revenue of about Rs 350 mn over the lease term. As of March 31, 2026 the company had a total footprint of 16.1 million sq ft across 66 centres in 15 cities and reported a net profit of Rs 105.2 mn in 2025-26. Total income rose to Rs 18.499 bn from Rs 14.0966 bn in the preceding year, illustrating revenue momentum as the company expands its enterprise focused managed workspace model.

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Smartworks Coworking Spaces (Smartworks) will acquire Workstudio Spaces Pte. through its wholly owned subsidiary Smartworks Space Pte. Ltd. Workstudio operates an operational footprint of 26,000 sq ft and has healthy committed occupancy levels. The transaction is expected to complete in July 2026 subject to requisite approvals and will be met through funds available with the subsidiary, reflecting a disciplined approach to executing strategically aligned transactions at a competitive valuation. The company framed the deal as a strategic expansion of its regional services. Upon completion Smartworks' Singapore portfolio is expected to expand to four centres, with its footprint increasing to 76,000 sq ft and total seating capacity exceeding 1,500. This will more than double the company's presence in Singapore over the last two years and reinforce its long term commitment to one of Asia's leading business and financial hubs. The company said Singapore remains a strategically important market supported by strong enterprise demand, a clear flight to quality and structurally healthy operating margins. Existing centres in Singapore have been profitable over the past two years. Workstudio will complement Smartworks' presence by providing access to a high-demand micro-market, diversifying the Singapore portfolio and broadening the enterprise client base. The deal is expected to broaden enterprise relationships across key business districts and strengthen the company's ability to deliver a consistent enterprise grade managed workspace experience. Smartworks transforms large commercial assets into fully managed enterprise campuses by integrating design, technology and workplace services. Recently Smartworks leased more than 400 seats at a Mumbai centre to a Japanese NBFC subsidiary under a five year agreement expected to generate rental revenue of about Rs 350 mn over the lease term. As of March 31, 2026 the company had a total footprint of 16.1 million sq ft across 66 centres in 15 cities and reported a net profit of Rs 105.2 mn in 2025-26. Total income rose to Rs 18.499 bn from Rs 14.0966 bn in the preceding year, illustrating revenue momentum as the company expands its enterprise focused managed workspace model.

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