Keppel Land invests in India’s Smartworks Coworking Space

Mural of construction gear in Singapore's Little India neighborhood.Mural of construction gear in Singapore's Little India neighborhood.

Keppel Land has invested US$25 million in India-based Smartworks Coworking Space, a flexible office-space provider with a presence in nine cities on the subcontinent, the property arm of Keppel Corp. said in a filing to SGX Thursday.

“This investment allows Keppel Land to enter one of the world’s fastest-growing flexible office markets, opening doors for further growth through this collaboration,” Tan Swee Yio, CEO of Keppel Land, said in the statement.

Tan pointed to potential collaboration with Keppel Land’s serviced co-office platform, KLOUD, which currently has operations in Singapore, Vietnam and Myanmar.

Currently, Smartworks has 23 centers in nine cities, with more than 400 tenants, the filing said. Its clients mainly include large enterprises and high-growth startups, such as Amazon Web Services, Bacardi, DHL, Samsung and Microsoft, the filing said.

The coworking operator plans to increase its footprint to more than 20 million square feet, from the current 2.3 million square feet, the filing said.

The Smartworks locations include amenities such as cafeterias, meeting spaces, gyms and first-aid clinics, the statement said.

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