SINGAPORE (Reuters) - Singaporean sovereign wealth fund GIC, Frasers Property Ltd and co-working space provider JustCo will invest $177 million in a partnership that will help JustCo expand into more markets, the companies said in a statement.
JustCo operates in Singapore, Indonesia and Thailand. The company has plans to expand into Greater China, Korea, Japan, Vietnam, Malaysia, the Philippines, Australia and India.
Demand for co-working spaces in the world’s largest cities has surged, drawing billions of dollars in capital into the sector.
Reporting by Aradhana Aravindan, Editing by Sherry Jacob-Phillips