Servcorp

Last updated

Servcorp Limited
Company type Public
ASX:  SRV
Industry Serviced Offices
Founded1978;47 years ago (1978)
FounderAlfred Moufarrige
Headquarters
Sydney
,
Australia
Number of locations
150+ locations
Key people
 Mark Vaile - Chairman [1]
Alfred Moufarrige - CEO [2]
David Hunt - CFO [3]
Daniel Kukucka - CIO [4]
ProductsVirtual Offices, Serviced Offices, Meeting Rooms, and Coworking Spaces
Website www.servcorp.com

Servcorp Limited is an Australian multinational office services company founded in 1978 [5] . The company provides Serviced Offices, Virtual Offices and Coworking Spaces across multiple international markets [6] .

Contents

As of June 2025, Servcorp maintained operations in 40 cities across 19 countries [7] , comprising more than 150 locations worldwide [8] . Its office are located in commercial buildings, including those in New York, London and other global financial centers. According to a 2017 article in Entrepreneur, Servcorp has provided office and virtual office services to clients including Lyft, Morgan Stanley, J.P. Morgan, and Cartier [9] .

History

Foundation and early growth

Servcorp was founded in Sydney in 1978 by Alfred Moufarrige [5] . In 1986, the company introduced its first virtual office service s enabling clients to access business addresses and administrative support without leasing physical office space [10] [11] . International expansion began in 1987 with establishment of centres in Asia [12] , followed by opening in Japan in 1995 [12] and France in 1987 [13] . Servcorp was listed on the Australian Stock Exchange in 1999 [10] , the same year it opened offices in Shanghai, marking its entry into China [14] .

International expansion

2000–2014

In the early 2000, Servcorp extended its network through Europe,Asia, and the middle East. by 2003, the company employed more than 130 staff in Tokyo [15] . It opened is first United Kingdom office in 2009 [16] and its first United States office in 2010 [16] .

The company entered the Turkish market in 2010, later adding a second Istanbul office in 2011 [17] [18] . In 2014, Servcorp opened a location in Beijing's Fortune Financial Center and signed a lease for office space in the One World Trade Center in New York City [19] .

2015–2019

From 2015 onward, Servcorp focused on upgrading technology infrastructure and expanding in high-growth regions [20] . in 2017, it announced plans to modernise its office systems and refurbish key sites [6] . The company opened its first German office in Berlin in 2019 [21] .

In 2017, the Australian Competition & Consumer Commission (ACCC), a competition watchdog, alleged that the standard form contract used by Servcorp was unfair and pursued court action [22] [23] . In 2018, an Australian Federal Court declared that 12 terms in the standard contracts used Servcorp were unfair. As part of the outcome, Servcorp agreed to a compliance program for its Australian business and agreed to pay the ACCC's legal costs [24] .

Recent developments

In 2020, new offices were open in One Museum Place in Shanghai and existing location in Hobart and Brisbane were expanded [25] .A further centre was launched in the Philippine Stock Exchange Tower in 2021 [26] .Subsequent opening included the Yanmar Tokyo Promenade Building and Bell Gully Building, New Zealand in 2023 [10] and an office in Riyadh's King Abdullah Financial District (KAFD) in June 2024 [27] . In 2025, Servcorp expanded onto a second floor in KAFD [28] and announced new locations in Abu Ouf Plaza and Alluqmani Business Center in Madinah [28] .

References

  1. ↑ "ASX Announcement". Australian Securities Exchange (ASX). 2024. Retrieved 29 September 2025.
  2. ↑ "ASX Announcement". Australian Securities Exchange (ASX). 2025. Retrieved 29 September 2025.
  3. ↑ "Market Announcement – Full Year Results". Market Index. Servcorp Limited. 14 August 2025. Retrieved 25 September 2025.
  4. ↑ "Annual Report to Shareholders". Market Index. Servcorp Limited. 10 October 2024. Retrieved 25 September 2025.
  5. 1 2 "Forty Years And Counting: Servcorp's Long-Serving CEO Alfred George Moufarrige". Entrepreneur Middle East. 21 May 2017. Retrieved 28 August 2025.
  6. 1 2 Barzilay, Omri (7 December 2017). "Servcorp Invests \$30 Million To Join The Co-Working Game". Forbes. Retrieved 24 September 2025.
  7. ↑ "Servcorp Reports Record Full Year Results – Full Year Results Announcement (Year Ended 30 June 2025)". Servcorp Limited. 14 August 2025. Retrieved 24 September 2025.
  8. ↑ "Annual Report to Shareholders". Market Index. Servcorp Limited. 12 October 2018. Retrieved 25 September 2025.
  9. ↑ Belanger, Lydia (9 June 2017). “Why This Legacy Company Is Betting on a Glass Highrise Vision of the Flexible Workspace”. Entrepreneur. Retrieved 30 October 2025, from https://www.entrepreneur.com/growing-a-business/why-this-legacy-company-is-betting-on-a-glass-highrise/295559.
  10. 1 2 3 "Annual Report to shareholders – Servcorp Limited (ASX: SRV)". MarketIndex – ASX Announcement. 12 October 2023. Retrieved 22 September 2025.
  11. ↑ Amador de San José, Cecilia (31 March 2016). "Interview: Marcus Moufarrige, COO Servcorp, on Pioneering Virtual Offices". Allwork.Space. Retrieved 30 October 2025, from https://allwork.space/2016/03/interview-marcus-moufarrige-coo-servcorp-on-pioneering-virtual-offices/.
  12. 1 2 Hall, Ben (15 September 2017). "The heir apparent to a family-run public company on how Servcorp plans to scale-up into the US". Business News Australia. Retrieved 23 September 2025.
  13. ↑ "Servcorp (Paris) — Société.com". Société.com. Retrieved 24 September 2025.
  14. ↑ "Defining the serviced office". China Daily. 9 November 2011. Retrieved 22 September 2025.
  15. ↑ Paul Robinson (20 October 2003). "Servcorp back at top end of town". Theage.com.au. Retrieved 1 June 2016.
  16. 1 2 “Half-Year Results Presentation – December 2024,” Servcorp Limited, ASX announcement, 19 February 2025. Retrieved 25 August 2025, from https://www.marketindex.com.au/asx/srv/announcements/half-year-results-presentation-XX584359.
  17. ↑ “Full Year Results Presentation – 2010,” Servcorp Limited, ASX announcement, published 26 August 2010. Retrieved 26 August 2025, from https://www.marketindex.com.au/asx/srv/announcements/full-year-results-presentation-XX603501.
  18. ↑ “Servcorp, İkinci Ofis Merkezini Ödüllü Tekfen Tower’da Açtı.” Haberler.com, 13 April 2011, https://www.haberler.com/ekonomi/servcorp-ikinci-ofis-merkezini-odullu-tekfen-2652706-haberi/.
  19. ↑ Young, Celeste (26 August 2014). "Servcorp Takes 35K SF at 1 WTC". Commercial Observer. Retrieved 25 August 2025.
  20. ↑ “Annual Report to shareholders.” Servcorp Limited (ASX SRV). Published 08 October 2015. Retrieved 30 October 2025, from https://www.marketindex.com.au/asx/srv/announcements/annual-report-to-shareholders-2A883734.
  21. ↑ "Full Year Results Presentation". Market Index. 28 August 2019. Retrieved 26 August 2025.
  22. ↑ Johanson, Simon (26 September 2017). "ACCC takes on Servcorp over 'unfair' contracts for co-working business tenants". The Sydney Morning Herald. Retrieved 3 September 2025.
  23. ↑ Waters, Cara (15 September 2017). "Servcorp slapped with ACCC action over unfair small business contracts". The Sydney Morning Herald. Retrieved 3 September 2025.
  24. ↑ "Servcorp's business contract terms declared unfair". Australian Competition and Consumer Commission. 13 July 2018. Retrieved 3 September 2025.
  25. ↑ "Annual Report to shareholders – Servcorp Limited (ASX:SRV)". Market Index. 1 October 2020. Retrieved 28 August 2025.
  26. ↑ "Annual Report to shareholders – Servcorp Limited (ASX: SRV)". Market Index. 8 October 2021. Retrieved 28 August 2025.
  27. ↑ "Servcorp boosts Saudi business landscape with KAFD expansion". Arab News. 22 June 2024. Retrieved 25 August 2025.
  28. 1 2 "Annual Report to shareholders". Market Index. FinTech Equity Pty Ltd. 9 October 2025. Retrieved 27 October 2025.
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