Date: 7th July, 2026
Board Meeting Outcomes
- The acquisition of WorkStudio Spaces Pte. Ltd., Singapore ("WorkStudio") by Smartworks Space Pte. Ltd. (a wholly owned subsidiary of the Company) was completed on July 06, 2026.
- This acquisition was pursuant to the approval of the Audit Committee of the Company, as disclosed in the company's filing dated June 25, 2026.
Disinvestment / Strategic Actions
- Entity Involved: WorkStudio Spaces Pte. Ltd., Singapore
- Acquiring Entity: Smartworks Space Pte. Ltd. (Wholly-Owned Subsidiary of Smartworks Coworking Spaces Limited)
- Transaction Type: Acquisition
- Capacity Added: 26,000 Sq. Ft.
- Investment Required: Not applicable. No investment was made by the parent company (Smartworks Coworking Spaces Limited) as the transaction was executed entirely by its subsidiary.
- Mode of Financing: Not applicable for the parent company.
- Strategic Rationale: The acquisition aims to strengthen Smartworks' presence in Singapore by expanding its coworking and flex space portfolio. This will grow Smartworks' portfolio in Singapore to four centres with a total of ~76,000 sq. ft., more than doubling its footprint over the past two years. The expansion is expected to enhance market presence, improve the ability to serve enterprise clients, and support long-term growth in Asia.
Other Operational / Legal / Strategic Disclosures
- Existing Capacity (as of 31st March 2026): 10.1 Million Sq. Ft. (Operational Capacity)
- Existing Capacity Utilization (as of 31st March 2026): 82% (Operational Capacity)
- The completion of this acquisition fulfills the proposed capacity addition previously intimated to the exchanges.