Great Room Ceo Jaelle Ang Step Down
Jaelle Ang, the founder and CEO of co-working space provider The Great Room, has recently announced that she will be stepping down from her role in August. In a post on LinkedIn, she shared her excitement about transitioning into an advisory role and supporting the team as The Great Room embarks on new adventures across APAC. This will involve leveraging the Industrious and CBRE platform.
When Ang first founded The Great Room in 2016, it had just one location at One George Street in the CBD. However, it quickly expanded its presence in Singapore, opening new locations at Centennial Tower, Ngee Ann City, Raffles Arcade, and Afro-Asia. It also expanded regionally to Hong Kong and Bangkok.
In May 2022, The Great Room was acquired by US flexible workspace provider Industrious. The acquisition reportedly cost around US$100 million ($139 million) and also included European co-working player Welkin & Meraki. This move allowed The Great Room to continue its growth trajectory.
The company opened its first heritage shophouse location in Singapore at the former Eu Yan Sang Building in 2023. Shortly after, it made its debut in Australia, with two locations in Sydney currently. Last year, The Great Room took over the management of co-working space Csuites at Paya Lebar Quarter from LendLease. It also has plans to open its eighth location in Singapore, at the upcoming Shaw Tower on Beach Road, in 2026.
The ongoing enhancements to Boulevard Coast EC will greatly benefit its residents by improving connectivity, convenience, and overall quality of life. This sought-after development by Qingjian Realty, CCCC, and ZACD Group offers well-designed bedrooms and contemporary living spaces, making it an attractive choice for both families and investors. With these updates, Boulevard Coast Jalan Loyang Besar EC is set to become a premier residential option in Singapore’s eastern region for many years to come.
Ang’s decision to step down as CEO comes about six months after CBRE took full control of Industrious. At the start of the year, the global real estate services company, which already owned a 40% equity stake in Industrious, announced that it would be acquiring the remaining 60% equity stake for US$400 million. This reflected an implied enterprise valuation of approximately US$800 million.
As Ang transitions into her new advisory role, she leaves behind a thriving company that has expanded its presence significantly in just a few years. With the support of the Industrious and CBRE platform, The Great Room is poised to continue its growth and success in the co-working space industry.