Smartworks Completes SGD 2.47M Acquisition of Singapore Subsidiary

Smartworks Coworking Spaces Ltd announced the completion of its acquisition of WorkStudio Spaces Pte. Ltd. in Singapore for a total consideration of 2.47 Million SGD. This acquisition, made through its wholly-owned subsidiary Smartworks Space Pte. Ltd., has been finalized on July 06, 2026. WorkStudio Spaces Pte. Ltd. is a flex space provider incorporated in Singapore on November 20, 2024. The acquisition aims to strengthen Smartworks' presence in Singapore, expanding its coworking portfolio to four centers with approximately 76,000 sq. ft., more than doubling its footprint over the past two years. This move is expected to enhance market presence, improve service to enterprise clients, and support long-term growth in Asia. The transaction was conducted on an arm's length basis, despite a related party interest through a director's relative.