How JustCo aims to capitalise on growing demand for hybrid workspaces

Kong Wan Long, JustCo’s co-founder and chief commercial officer, said hybrid work was not a trend but a reality. Today, every business that has an expiring fixed lease is considering flexible workspaces for more agile and cost-effective planning. The company is filling up its centres with an average 80 per cent occupancy across Asia Pacific, he said.
 

He added that in Bangkok in particular, all four available JustCo centres are nearing full occupancy, averaging 87 per cent. The majority of customers (60 per cent) are general people, while the rest are small enterprises, multinational corporations (MNCs), and startups.

“As a company, expanding globally will allow us to offer a stronger product. Many of our customers have regional operations. With a single JustCo contract, JustCo members have access to our entire platform of over 45 co-working centres and 30,000 desks,” Kong Wan Long added.

As the strong point of co-working space is flexibility, he strongly believes that the industry has more room to grow. Co-working spaces currently account for 3-5 per cent of the total rental office industry in the Asia Pacific region.

"Our main focus market remains in Asia, as Asia is our roots and we know how to properly serve and show them hospitality," said Kong Wan Long.

Currently, there are three major trends that support co-working space operators in the post-Covid era. The first factor is most employees want flexibility. The second is many companies are seeking more cost-effective and less risky options. Hence, they would rather prefer to lease an office for a short period like 3-9 months rather than 3-5 years. And the last factor is the boom of tech firms that have become growing users of flexible workspaces, prioritising productivity more than going to work at the office.

Kong Wan Long said that the new centre in Bangkok is located in Silom Edge building, the prime corner of Silom, the capital's financial hub, and Rama IV Road. Aiming to serve the tech-savvy lifestyle of new-gen employees, the place will house the company’s first live streaming and podcast studio. The studio is available for use by both JustCo members and external customers.

Other latest digital workspace technology, including wireless office access and on-the-go remote booking of all workspaces, meeting rooms and amenities are also well-equipped at the new centre as well.

Three new centres will be opened in Tokyo and Singapore later this year.

Wimolnit Lertpitakkit, JustCo Thailand and Indonesia general manager, said despite the two-year global pandemic, JustCo’s customer base in Thailand grew around 20 per cent compared to early 2020. The company is now serving around 6,000 members in Thailand.

"We believe we have the right team, the right product, and the right locations to grow long-term with our members,” said Wimolnit.