Great Room Ceo Jaelle Ang Step Down
Jaelle Ang, the founder and CEO of co-working space provider The Great Room, has announced that she will be transitioning to an advisory role in August. In a post on LinkedIn, she expressed her excitement to support the team as they embark on new ventures across APAC, utilizing the combined platform of Industrious and CBRE.
The Great Room was established in 2016, with its first location at One George Street in the CBD. Over the years, the firm has expanded its presence in Singapore, with additional locations at Centennial Tower, Ngee Ann City, Raffles Arcade, and Afro-Asia. It has also expanded regionally to Hong Kong and Bangkok.
In May 2022, The Great Room was acquired by US flexible workspace provider Industrious, with reported payment of approximately US$100 million ($139 million) for The Great Room and European co-working player Welkin & Meraki.Read also: The Executive Centre opens two locations SingLand Tower and IOI Central Boulevard, expands at OFCAdvertisementAdvertisementSince the acquisition, The Great Room has continued to grow. In 2023, it opened its first heritage shophouse location in Singapore at the former Eu Yan Sang Building. Shortly after, it made its debut in Australia and now has two locations in Sydney.
Last year, The Great Room took over the management of co-working space Csuites at Paya Lebar Quarter from LendLease. Its eighth location in Singapore, at the upcoming Shaw Tower on Beach Road, is set to open in 2026.
Ang’s decision to step down as CEO comes after CBRE acquired full ownership of Industrious in January this year. The global real estate services company, which previously held a 40% equity stake in Industrious, announced that it was acquiring the remaining 60% for US$400 million, resulting in an estimated enterprise valuation of US$800 million. RELATED NEWSThe Great Room’s first Australian co-working space opens with 71% occupancyThe Great Room opens first co-working space in SydneyThe Great Room opens first heritage shophouse location at Eu Yan Sang Building
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