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|Title:||UNDERSTANDING THE DEMAND FOR COWORKING SPACES IN EXISTING SHOPPING MALLS||Authors:||LIM XING MAN STEPHANIE||Keywords:||Real Estate
|Issue Date:||13-Nov-2020||Citation:||LIM XING MAN STEPHANIE (2020-11-13). UNDERSTANDING THE DEMAND FOR COWORKING SPACES IN EXISTING SHOPPING MALLS. ScholarBank@NUS Repository.||Abstract:||Over the years, Singapore has been slowly transitioning into a sharing economy. One of the by-products of the sharing economy includes co-sharing office spaces, i.e. coworking spaces. There has been an emergence in coworking spaces over the years, alongside the rise of the gig economy as well as flexible working. On the contrary, demand for physical retail stores have been falling, due to the emergence of e-commerce, as well as the further exacerbation by the COVID-19 pandemic, which resulted in the closure of many brick-and-mortar retail stores. To combat the issue of falling shopping mall rents and rising vacancies, mall managements could explore the possibility of leasing their vacant spaces to coworking space operators, which would combat that issue, and possibly boost shopping mall sales due to the high likelihood of coworking space members spending money in the mall. This study aims to understand the demand for coworking spaces in Singapore by examining the level of willingness of having coworking spaces as workspaces among individuals. Data was obtained through questionnaires with respondents from Generation X, Millennials and Generation Z. Interviews were also conducted with members of Justco to understand the attractiveness of the place. After affirming demand, the viability of having coworking spaces situated in shopping malls was delved into. An interview was conducted with Ms Muliani, the assistant manager of Justco, to understand more about the operation of coworking spaces, as well as to understand more about the success behind one of their coworking space that is located in Marina Square. Hence, the second hypothesis focuses on the possibility of this conversion. The formulated hypotheses were then evaluated using findings from both qualitative and quantitative research and the findings suggest that there is a strong demand for coworking spaces in Singapore and the viability of having coworking spaces in shopping malls could be actualised.||URI:||https://scholarbank.nus.edu.sg/handle/10635/223226|
|Appears in Collections:||Bachelor's Theses|
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