NSE-listed Smartworks acquires Singapore’s Workstudio Spaces in $2.47 mil deal

A subsidiary of India-listed flexible workspace operator Smartworks Coworking Spaces has completed the acquisition of Singapore-based Workstudio Spaces via an all-cash share purchase transaction with an equity value of $2.47 million.

According to a July 7 announcement, the acquisition adds approximately 26,000 sq ft managed office space at 78 Shenton Way to Smartworks’ portfolio, which now seats 1,500 workers across four locations in Singapore, totalling some 76,000 sq ft.

According to the announcement, Workstudio serves more than 45 clients at “healthy” occupancy levels with a projected potential annual revenue run rate of $4 million.

Prerna Jhunjhunwala, director, Smartworks Space, says: “Singapore has always been central to our Asia-Pacific ambitions. We’re seeing a clear shift in the way businesses think about their workplaces; enterprises today want the flexibility to scale without compromising on quality. We are glad to be part of their growth stories and provide them with cost efficiency, operational flexibility, scalability and a high-quality workplace environment.”

She adds: “This acquisition deepens our presence in Singapore and, more importantly, strengthens our ability to grow alongside our clients as their workplace strategies evolve.”

Smartworks has more than doubled its footprint here over two years. The company opened a combined 35,036 sq ft of space between Great Eastern Centre and Keppel Bay Tower in June 2024, and announced a 15,000 sq ft location at Manulife Tower in June this year.

Fit-out works are currently ongoing at Manulife Tower and the space is expected to be operational around July. The space at Manulife Tower has been designed to accommodate approximately 360 seats, said Smartworks to City & Country.

Smartworks claims to be India’s largest managed office platform by area under management and the only listed flexible workspace provider from India with an international presence. As at March 31, it operates 16.1 million sq ft of flexible workspace across 66 centres in 15 cities across India and Singapore.

Smartworks Space is a wholly owned subsidiary of Bombay Stock Exchange- and National Stock Exchange of India-listed Smartworks Coworking Spaces.

Smartworks Coworking Spaces went public in July 2025. In its first financial year as a listed company, Smartworks reported 31% y-o-y revenue growth and its first full year of profitability after tax for FY2026 ended March 31.

Read more about co-working spaces in Singapore:

NSE-listed Smartworks announces third S’pore location at Manulife Tower

Arcc Spaces appoints The Afternaut Group to design Bank of Singapore Centre co-working space

Arcc Spaces to open 25,782 sq ft co-working space at Bank of Singapore Centre in June

Industrious, formerly The Great Room, to open in Shaw Tower this November

The Great Room grows to 10 locations with ‘managed solutions’ to debut

JustCo opens second location of ‘essentials-focused’ The Boring Office at The Octagon

Can JustCo bury the ghost of WeWork?

GIC-backed JustCo aims to raise $100 mil from IPO to fund expansions

GIC-backed JustCo aims to double market presence with three-brand push

Workspace typologies are shifting in Singapore: Knight Frank

For more property trends and breaking news, visit City & Country’s microsite at theedgesingapore.com/cityandcountry