Servcorp

Servcorp was founded in Sydney in 1978 by Alfred Moufarrige.^[5] In 1986, the company introduced its first virtual office services 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] and France,^[13] followed by opening in Japan in 1995.^[12] 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]

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]

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]

In 2020, Servcorp opened new offices in One Museum Place in Shanghai, and expanded its existing location in Hobart and Brisbane.^[25] In 2021, the company launched a new centre in the Philippine Stock Exchange Tower.^[26]

Between 2019 and 2022, Servcorp was affected by COVID-19 pandemic. Global lockdowns and travel restrictions reduced office demand.^[27] In response to the pandemic, leading the company to implement cost-cutting measures, reduce staff, and introduce health and safety protocols across its locations.^[28] In 2020, the company announced the closure of 12 U.S. locations as part of a reorganisation,^[29] while retaining a presence in Chicago, Houston, New York, and Washington DC.^[29] The closures formed part of a broader restructuring following a 22% decline in revenue to A$275.7 million.^[30]

Following the pandemic disruptions, Servcorp Limited began to recover. In the year 2023, revenue rose around 7%, supported by new openings in the Yanmar Tokyo Promenade Building in Japan and Bell Gully Building in New Zealand.^[10] The company continued to expand with an office in Riyadh's King Abdullah Financial District (KAFD) in June 2024,^[31] followed by an additional floor KAFD ^[32] and new locations in Abu Ouf Plaza and Alluqmani Business Center in Madinah in 2025.^[32]