Smartworks Coworking is acquiring a 100% stake in Singapore-based WorkStudio Spaces for expansion. This cash deal aims to double its footprint in Singapore to four centres, covering approximately 76,000 sq. ft., with completion expected by July 2026.
Smartworks Coworking Expands in Singapore by Acquiring WorkStudio Spaces
Smartworks Coworking Spaces Ltd is set to acquire a 100% stake in WorkStudio Spaces Pte. Ltd., marking a significant expansion in the Singapore market.
Reader Takeaway: Strategic international growth through acquisition, but transparency in related-party deal is key.
What just happened
Smartworks Coworking, through its wholly-owned subsidiary Smartworks Space Pte. Ltd., will acquire 100% of WorkStudio Spaces Pte. Ltd. The transaction, settled in cash, is expected to be completed by July 2026. The company's turnover for the target entity from November 2024 to March 2026 is reported at INR 5.09 crore.
Why this matters
This acquisition is poised to double Smartworks' footprint in Singapore, bringing its total to four centres spanning approximately 76,000 sq. ft. This move is strategic, aiming to bolster the company's capacity to serve enterprise clients in a key international business hub.
The backstory
Smartworks has been steadily building its presence in Singapore over the past two years. This acquisition represents a significant acceleration of that growth strategy, consolidating and expanding its offering in the flex space market.
What changes now
The company's operational capacity in Singapore will effectively double. The deal requires in-principle approval from the Audit Committee and Board of Directors, which was received on June 25, 2026. The final acquisition cost is subject to further negotiation and final documentation.
Risks to watch
The transaction has been identified as a related party transaction, as an immediate relative of a director and promoter has an interest in the target's holding company. While Smartworks states the deal is on an 'arm's length' basis, investors will need to monitor disclosures for governance and transparency.
Peer comparison
While specific peer data for this particular transaction isn't detailed in the filing, the move signifies Smartworks' ambition to compete more effectively in the international co-working space sector against established global and regional players.
Context metrics (time-bound)
- Target Company: WorkStudio Spaces Pte. Ltd.
- Acquisition: 100% stake
- Consideration: Cash
- Expected Completion: By July 2026
- Target Turnover (Nov 2024 - Mar 2026): INR 5.09 crore
- New Singapore Footprint: ~76,000 sq. ft. (4 centres)
What to track next
Investors should closely monitor the finalization of definitive transaction documents and the confirmation of the acquisition cost. Ensuring continued transparency and adherence to 'arm's length' principles in this related party transaction will be crucial.