Coworking space provider JustCo bags $74m to expand in Asia, Japan markets

JustCo, a co-working space headquartered in Singapore, raised $74 million from Japan-listed construction and real estate company Daito Trust, according to an announcement.

The fresh capital will be used to fuel JustCo’s further expansion into the Asia Pacific and Japanese market, with plans to open Japan’s first coworking center in Shibuya Hinkarie in January 2022.

The planned expansion to Japan will extend JustCo’s presence in the Asia Pacific to eight key markets, including Australia, China, Indonesia, Singapore, South Korea, Taiwan, and Thailand, the company said.

In addition, JustCo plans to expand its business further in Japan and Asia as demand for coworking spaces increases rapidly due to the covid-19 pandemic from 2020 onwards.

Recently, in addition to promoting telecommuting in companies, freelance and flexible remote work is attracting attention. Along with this, the number of coworking spaces is increasing as a place where you can work comfortably outside of your home or work office, JustCo said.

JustCo is a global company that offers coworking space, private office space, meeting rooms leasing, and event space rental.  It offers several flexible coworking spaces for freelancers and businesses a long way.

In addition to a working desk designed to allow individuals to focus, there is also a meeting room for meeting clients and training new hires, as well as an event space for networking.

Recently, the stress of working from home is becoming a problem for companies. By using such a coworking space, it is possible to promote communication and improve the working environment of employees.

Founded in 2011 and backed by the formidable Singapore sovereign wealth fund GIC, and real estate group Frasers Property, JustCo has made it into the exclusive unicorn club, with a valuation of just over $1 billion.

Daito Trust, meanwhile, is a construction and real estate company that now aims to become a lifestyle services provider by strengthening comprehensive leasing and total lifestyle support service business operations.