.jpg?s4XKSbrZExUfz9NTilwW66Lp1yqeSh32&itok=afCNfRWl "Ang founded The Great Room in 2016 (Picture: Samuel Isaac Chua/The Edge Singapore)")
Jaelle Ang, CEO of co-working space provider The Great Room, has announced she will be stepping down from her role in August. “As I now step into the role of advisor, I am excited to support the team as The Great Room embarks on new adventures across APAC, leveraging the Industrious and CBRE platform,” she said in a post on LinkedIn.
Ang founded The Great Room in 2016, opening its first location at One George Street in the CBD. The firm subsequently expanded in Singapore over the following years, with 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, with the latter reportedly paying around US$100 million ($139 million) to buy The Great Room as well as European co-working player Welkin & Meraki.
Following the acquisition, The Great Room continued to grow. In 2023, it opened its first heritage shophouse location in Singapore at the former Eu Yan Sang Building. Not long 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. An eighth location in Singapore, at the upcoming Shaw Tower on Beach Road, is slated to open in 2026.
Ang’s departure 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 held a 40% equity stake in Industrious, announced it was acquiring the remaining 60% equity stake in the company for US$400 million, reflecting an implied enterprise valuation of approximately US$800 million.
