Portuguese Coworking operator SITIO.co plans to invest 5 million euros in expanding and announced the opening of 4 new coworking spaces in 3 cities across Portugal.
Once the 4 locations will be opened, SITIO will manage 15 spaces across 5 cities in the country.
This will represent 26,000 sqm of flex space in their portfolio.
“Our ambition is to reach capillarity in the country and to support the democratization of this type of workspace in as many locations as possible. In fact, that’s why we created a new business model, coworkplace management, to fulfill this aim alongside partners and owners who can see in their unused square meters a “new place” growing, with the SITIO brand”, says Miguel Ricardo, general manager of the SITIO network.
SITIO reports an average of 85% occupancy rate across most of its locations.