Hong-Kong based flexible workspace provider, The Executive Centre (TEC), has grown its footprint in China, opening two new centres in Hangzhou and Shanghai, and expanding in Shenzhen.
The two new centres, which opened in July, are Shui On Plaza in Shanghai and The One Place in Hangzhou. Meanwhile, the firm expanded its existing floorspace at GEM Tower Centre in Shenzhen.
“We move into cities and markets based on client demand,” says TEC founder and CEO, Paul Salnikow. “We continue to see strong demand coming from MNCs and domestic corporates in China, which are looking for premium Grade-A office space, but want more flexibility at the current time as they try to manage costs.”
“Since the beginning of 2020, our occupancy rates in China have remained robust at close to 80% and we are pleased to see a growing number of enquiries from domestic biotech and new economy companies in Tier 1 and Tier 2 cities,” Salnikow says.
In Shanghai, TEC’s new centre is in one of the city’s most well-known commercial buildings, Shui On Plaza, on Huaihai Road in Xintiandi. The 9,084 sq ft workspace provides over 130 workstations. Shanghai is one of the fastest-growing markets for TEC, which has 17 centres in the city.
Over in Hangzhou, the One Place in Gong Shu district spans four floors and has 416 workstations across 24,154 sq ft.
In Shenzhen, TEC’s additional centre in GEM Tower is located in the heart of the Shenzhen Nanshan district. In addition to the 186 workstations on level 13, TEC is adding 174 workspaces to level 14, with a net area totalling 21,500 sq ft.
Globally, the company has more than 135 centres in 32 cities and 14 countries across Asia Pacific and the Middle East.
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