Embracing Coworking

In 2016, major cities such as Hong Kong have seen a significant 45% increase in the amount of coworking office spaces being offered. Similarly, the past two years have resulted in more than 100 operators providing coworking environments in China’s top cities and more than 20 in Singapore according to JLL reports. Although numbers still lag behind those in the West, the proliferation of coworking spaces in Australia, Singapore, China, and other metropolitan areas in the Asia Pacific region show a growing inclination for flexibility and non-traditional offices for both employees and corporations alike. A trendy alternative Coworking is a style of work that involves sharing a space with others not employed by the same company. Occupiers of a coworking space generally have access to a number of resources including wifi, private offices, conference rooms, cafes, work desks, and communal space on a shared floor. Coworking spaces also provide a low risk, agile solution for companies and individuals that do not want to invest in the high fixed costs and long leases required of a traditional office. Yet far more than the resources, the greatest value in coworking comes from the relationships, knowledge sharing, and collaboration fostered by accommodating people of various industries, backgrounds, and levels of experience into one single workspace. Nowadays coworking spaces can take on a variety of forms from ones that are catered to freelancers and startups to those for a single business. Corporate interest in coworking, especially, is growing. More and more businesses see the value in sending their employees into a community in closer contact, as JLL Singapore research analyst Jiemei Tan describes, “with startups, entrepreneurs and freelancers, [that] allows for an unhampered exchange of ideas with these stalwarts of innovation.” In the Asia Pacific region too, the...