Smartworks Coworking is acquiring Singapore's Workstudio Spaces to boost its international presence. The deal, funded internally, aims to expand its Singapore footprint to 4 centers and over 1,500 seats by July 2026.
Smartworks Expands Singapore Presence with Workstudio Acquisition
Smartworks Coworking Spaces Ltd. is set to acquire Singapore-based Workstudio Spaces Pte. Ltd. through its subsidiary, Smartworks Space Pte. Ltd. The transaction is expected to be completed by July 2026.
Reader Takeaway: Boosts international footprint; funded internally, focused on profitable Singapore market.
What just happened
Smartworks Coworking is acquiring Workstudio Spaces Pte. Ltd., a Singaporean coworking company. This acquisition, expected to conclude in July 2026, will add 4 new centres and over 1,500 seats to Smartworks' Singapore operations.
The deal will be funded using the subsidiary's available cash, meaning no new debt or equity dilution for the parent company.
Why this matters
This move signals Smartworks' commitment to the Singapore market, described as strategically important due to strong enterprise demand and a 'flight to quality'. The company highlighted that its existing Singapore centres have been profitable for the past two years.
The acquisition aims to tap into a high-demand micro-market, diversify its Singapore portfolio, and broaden its enterprise client base. This aligns with Smartworks' strategy of offering enterprise-grade managed workspaces.
The backstory
As of March 31, 2026, Smartworks operates a significant managed office platform with approximately 16.1 million sq. ft. across 66 centres in 15 cities, including India and Singapore. The company caters to large clients like Fortune 500 and Forbes 2000 companies.
Workstudio's operational footprint being acquired is about 26,000 sq. ft.
What changes now
Upon completion in July 2026, Smartworks' Singapore presence will effectively double. The acquired centres will bring the total post-acquisition footprint in Singapore to approximately 76,000 sq. ft. and seating capacity to over 1,500 seats.
Risks to watch
The primary watch point is the completion of the transaction, which is subject to obtaining requisite approvals. This is a standard condition for such acquisitions.
Peer comparison
While specific peer data for this acquisition isn't detailed, Smartworks operates in the competitive coworking and managed office space market in India and increasingly internationally. Its strategy focuses on large enterprise clients, differentiating it from some smaller, co-living focused players.
Context metrics
As of March 31, 2026:
- Smartworks Group Total Footprint: ~16.1 million sq. ft.
- Smartworks Group Total Centres: 66
- Smartworks Group Client Count: 770+
What to track next
Investors should closely monitor the successful closure of the acquisition in July 2026. Following this, tracking the integration of Workstudio Spaces and its contribution to Smartworks' profitability and market share in Singapore will be crucial.