EXPLORING CO-WORKING SPACES IN TANDEM WITH DECENTRALISATION

Abstract

Co-working spaces serve as a pivotal shift in office space usage in an ever-evolving economy. Perceived as the “unicorn” of the real estate industry ever since it gained popularity and proliferated in cities worldwide, co-working spaces wrestles with traditional office spaces in the midst of an upsurge of the sharing economy and changing workspace needs of younger workers. It illustrates a business model where individuals working either independently or collaboratively, share a common office space, which is usually furnished and well-equipped with facilities. Co-working spaces have found its way into Singapore, swiftly becoming a big player in the office market here and accounting for more than 3.7 million sqft of commercial space in 2019. However, more than 80% of the co-working spaces in Singapore are located in CBD despite the government’s efforts to decentralise central office spaces and an increasing number of MNCs adopting flexi office spaces as well. DR such as TRC, JLD and CBP hold onto massive numbers of employment but yet account for only about 5% of all the co-working spaces in Singapore. This dissertation seeks to uncover and illuminate the potential uncertainties and mismatches between flexi office spaces and workers working in the DR through a series of survey questionnaire, interviews and other quantitative analysis methods. Through this, further recommendations can be made and the future of co-working spaces in a decentralizing Singapore can be further anticipated and measures can be better enhanced to promote a complementary working environment in Singapore’s office climate.