As part of the MOU, the Parties have agreed to promote each other's facilities and services
ACROMETA Group Limited, an established specialist engineering service provider in the field of controlled environments serving mainly the healthcare, biotechnology, pharmaceutical, research and academia sectors, announced that Life Science Incubator Pte Ltd1 ("Life Science Incubator" or "LSI") has entered into a non-binding Memorandum of Understanding ("MOU") with a renowned regional German commercial property management group (“GCPM”).
The MOU confirms LSI and GCPM's ("The Parties") commitment and interest in working together for mutual benefit on LSI's proposed co-working laboratory space project in Brisbane, Queensland, Australia (the "Brisbane Project"). Information about the Brisbane Project and Brisbane's flourishing life science hub has been posted to SGXNet in the ACROMETA press release dated 31 March 2023. Specifically, GCPM intends to lease and operate the co-working office area and meeting rooms within the LSI's Brisbane premises.
In addition, as part of the MOU, the Parties have agreed to promote each other's facilities and services to their respective members, tenants and business network. LSI currently operates a 6,500 sq feet co-working laboratory space at The German Centre in Singapore, serving SMEs and startups, while The German Centre operates the co-working office area and meeting rooms in the premise.
This existing partnership has worked well with LSI members being able to leverage on the co-working office area and meeting rooms. The intent of the MOU is to replicate the success and synergies experienced in Singapore. Mr Levin Lee Keng Weng, ACROMETA's Executive Chairman, commented, "To have a working partnership with such a prestigious regional German property management group is advantageous for ACROMETA. We hope to replicate the model in Singapore, which has worked well for us, to Australia and beyond. Their business network and experience, coupled with LSI's technical expertise on co-working laboratory spaces and Acromec Engineers' experience in the design and construction of laboratories, means that we have a competitive advantage for tapping into the demand for coworking laboratory space in Brisbane."