CapitaLand-backed The Work Project signs JV to expand flex-workspace in Australia

Dexus’ operations will be transferred to TWP.

CapitaLand-backed The Work Project (TWP) announced that it has entered into a 50:50 joint venture with Australian property giant Dexus to form Australia’s first premium flex coworking operator.

The new company, The Work Project Sydney Pty. Ltd will represent around a combined 14,000 sq m of flex space across Sydney, Melbourne, Brisbane, and Perth CBDs primarily located in Dexus-managed buildings.

TWP and Dexus will be retaining their brands whilst Dexus’s operations “Dexus Place,” will be transferred to TWP.

TWP has 14 sites across Hong Kong, Singapore, and Sydney making it Singapore's largest premium serviced office operator.

In Sydney, the firm operates the premium co-working facility at Quay Quarter Tower where Dexus is headquartered and is planning to open two new sites in Sydney in 2024.

“Partnering with a highly experienced regional operator enables us to leverage proven expertise to create an exceptional customer offering that helps accelerate the diversification of our leasing offering to include core leasing, flexible workspace, co-working, meeting and event spaces and serviced offices,” Andy Collins, Executive General Manager of Office at Dexus said.