Smartworks completes acquisition of Workstudio Spaces, adds 45 clients in Singapore

What Smartworks announced

Smartworks Coworking Spaces Limited announced on 7 July 2026 that it has completed the acquisition of Workstudio Spaces Pte. Ltd., a Singapore‑based coworking and flexible‑workspace provider. The transaction was executed through Smartworks’ wholly‑owned subsidiary, Smartworks Space Pte. Ltd. The press release states that the acquisition adds over 45 enterprise clients to Smartworks’ Singapore portfolio and expands its operational footprint to approximately 76,000 sq ft with a seating capacity of more than 1,500.

Details of the acquisition

The acquisition was finalized on the same day the press release was filed with the BSE and NSE (7 July 2026). While the filing does not disclose the consideration paid or the financing structure, it confirms that Workstudio will operate under the Smartworks brand as part of its four Singapore centres. The new centres are strategically located, with one site benefiting from the upcoming Prince Edward MRT station, which is expected to improve accessibility for enterprise tenants.

Expansion of Smartworks’ Singapore footprint

Prior to the deal, Smartworks already operated three centres in Singapore. The addition of Workstudio brings the total to four centres, raising the total managed area in the city‑state to roughly 76,000 sq ft. Seating capacity now exceeds 1,500 desks, a significant increase that aligns with Smartworks’ goal of serving mid‑to‑large enterprises seeking flexible, enterprise‑grade office solutions. The company highlighted that the acquisition diversifies its geographic coverage across Singapore’s key business districts, reducing reliance on any single location.

Impact on client base and service offering

Workstudio’s existing client roster contributes more than 45 new customers spanning a variety of industry sectors. This broadens Smartworks’ addressable market in Singapore and strengthens its value proposition for enterprise clients that demand rapid scalability, high‑quality amenities, and integrated support services. Smartworks’ management emphasised that the acquisition complements its existing portfolio and enhances its ability to deliver end‑to‑end workplace solutions, including the SmartVantage platform that bundles legal, compliance, talent and operational support.

Key facts at a glance

Why this matters for investors

The acquisition expands Smartworks’ geographic diversification beyond India, giving it a stronger foothold in one of Asia’s premier business hubs. By increasing both the physical footprint and the client base in Singapore, the company can potentially generate higher recurring revenue from enterprise leases, which typically command premium rates. However, the filing does not disclose the purchase price or any debt incurred, leaving the exact financial impact on the balance sheet unclear. Investors should monitor subsequent disclosures for details on financing, integration costs, and any regulatory approvals that may be required.

Conclusion

Smartworks has formally completed the purchase of Workstudio Spaces, bringing its Singapore operations to four centres and adding over 45 enterprise clients. The move aligns with the company’s strategy to grow its managed‑office platform in high‑growth markets. While the strategic rationale is clear, the financial terms remain undisclosed, and investors will need to await further filings for a complete picture of the transaction’s impact on Smartworks’ financials and future growth trajectory.