NEW DELHI: Smartworks Coworking Spaces is set to acquire Singapore-based flexible workspace provider Workstudio Spaces via its wholly-owned subsidiary, Smartworks Space. This transaction is anticipated to finalize in July 2026, post which Workstudio will function as a step-down subsidiary of Smartworks.
Workstudio Spaces operates an area of around 26,000 sq ft in Singapore, with established occupancy levels. The acquisition will be executed through a cash transaction, where Smartworks’ subsidiary will gain full ownership of Workstudio. The final cost is still being negotiated and will depend on the closure of transaction documents.
Funding for this acquisition will come from resources within the Singapore subsidiary, and no direct investment will be made by the parent company. The capacity expansion will occur through the wholly-owned subsidiary.
Smartworks currently operates at approximately 82% capacity. This acquisition is expected to enhance its operational capacity by adding 26,000 sq ft.
Once completed, Smartworks’ Singapore portfolio will expand to four centers, increasing its total footprint in Singapore to roughly 76,000 sq ft, with a seating capacity of over 1,500. Neetish Sarda, founder and managing director, noted that the existing centers in Singapore have been profitable for the last two years, and Workstudio is poised to strengthen its presence in a high-demand market.
This transaction will be classified as a related party transaction due to an immediate relative of one of Smartworks’ directors holding an interest in the holding company of Workstudio. However, the deal is being conducted at arm’s length.
As of March 31, 2026, Smartworks boasts a total footprint of approximately 16.1 million sq ft across 66 centers in 15 cities within India and Singapore.
