Great Room Ceo Jaelle Ang Step Down
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Jaelle Ang, the CEO of popular co-working space provider The Great Room, recently announced that she will be stepping down from her position in August. In a LinkedIn post, she shared her excitement to take on the role of advisor and continue supporting the team as they embark on new adventures across APAC, with the added advantage of leveraging the Industrious and CBRE platform.
Ang initially founded The Great Room in 2016, with its first location at One George Street in the CBD. From there, the company expanded rapidly in Singapore, opening locations at Centennial Tower, Ngee Ann City, Raffles Arcade, and Afro-Asia. It also extended its reach to other countries, such as Hong Kong and Bangkok.
In May 2022, The Great Room was acquired by US-based flexible workspace provider Industrious for a reported price of around US$100 million ($139 million). This acquisition also included the purchase of European co-working player Welkin & Meraki.
Since the acquisition, The Great Room hasn’t slowed down its growth. In 2023, it opened its first heritage shophouse location in Singapore at the former Eu Yan Sang Building. Additionally, the company made its debut in Australia and currently 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. The company is set to open its eighth location in Singapore, at the upcoming Shaw Tower on Beach Road, in 2026.
Ang’s decision to step down as CEO comes about six months after CBRE took full control of Industrious. In January, the global real estate services company, which already held a 40% equity stake in Industrious, announced the acquisition of the remaining 60% equity stake in the company for US$400 million, reflecting an implied enterprise valuation of approximately US$800 million.