Smartworks makes international foray, picks up 35k sq ft on lease in Singapore

New Delhi: Flexible workspace provider Smartworks, which has filed preliminary papers with the Securities and Exchange Board of India (Sebi) to raise funds through an initial public offering (IPO), has entered the international market with leasing of 35,000 square feet space in Singapore.

With this, Smartworks becomes one of the first homegrown operators to expand to global market.

"As part of our inorganic growth strategy, we intend to continue to evaluate opportunities for acquisition of assets and will seek to expand our portfolio opportunistically based on economies of the acquisition costs. Our subsidiary, Smartworks Space entered into an agreement with Keppel Real Estate Services (KRESPL) and leased two centres in Singapore," the company has said in the DRHP.


Since 2019, Singapore-based Keppel has been a prominent and longstanding investor in Smartworks, having invested $29 million in the company to date.

As of March 31, 2024, Smartworks had established a presence in 13 cities with a portfolio comprising 41 centres spanning 8 million square feet.