Co-working space chain Campfire Collaborative Spaces to launch in Singapore in 2019 | Digital Asia

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The site will be situated in CBD

Hong Kong co-working space operator Collaborative Spaces has announced it will launch its first location in Singapore in Q3 of next year.

In an official press , Campfire said the location will take up an entire 16-floor, 85,000 sq ft building at 139 Cecil Street, which is located in the Central Business District (CBD).

The site will be branded as a “mixed-use development” as opposed to it just being a co-working space.

The building currently sits as an 11-storey building and is undergoing renovation works. The additional five floors are being added, and they will feature a roof terrace with a sky pool, rooftop bar, outdoor dining area and cabanas.

The newly-renovated building will also house private and shared offices, F&B and retail outlets, a full-service gym, car parking, events, conferencing, education, wellbeing and recreation facilities.

The co-working space industry in Singapore is booming, According to Colliers International Group, flexible workspace stock in Singapore has nearly tripled since 2015, with 2017 — representing a 44 per cent growth Year-on-Year (YoY).

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Colliers forecast the sector to be firmly on track for another 30 per cent growth in total stock over 2018, given operators’ aggressive expansion .

Prominent co-working giant WeWork has been on launching spree; just within CBD alone, it already has five sites. There is also a swathe of other smaller co-working spaces contesting for real estate in the area, such as Collective Works, Just Co, and more.

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Campfire’s entry will intensify competition for tenants; though, it’s too early to say whether the influx of co-working spaces has led to market saturation.

Founded just two and a half years ago, Campfire now has 20 sites across four countries occupying over 580,000 sqft globally.  The company has locations in Australia and the United Kingdom,

Last year, Campfire bagged a US$6 million seed round from a group of undisclosed angel investors in the real estate industry.

Image Credit: Campfire Collaborative Spaces

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