News
COMMERCIAL PROPERTY | Staff Reporter, Singapore
view(s)

The Great Room eyes affluent tenants in new 15,000 sqft luxury co-working space

Dedicated offices in Raffles Hotel will be pricier than their current offerings which starts at $2,500 a month.

Bloomberg reported that co-working operator The Great Room will open its fourth location in Singapore at six-star Raffles Hotel where it will occupy 15,000 sqft of space.

According to The Great Room’s co-founder and CEO Jaelle Ang, they will lease the spaces in Raffles for a more expensive rate than their current offerings at their existing Singapore locations were dedicated offices range from $2,500 a month, which, Ang notes, is about 20% higher than rates from WeWork, but a 40% uplift in terms of privacy, security, acoustics and quality of fit-out.

“We’re not targeting the 18-year-old entrepreneur, we’re targeting the 45-year-old who’s had a successful career and is now starting their own business,” Ang told Bloomberg. “They’re happy to pay extra for a premium working environment.”

The CEO also revealed that they are close to signing tenants for its Raffles location, with family offices, private equity and venture capital funds showing particular interest.

Here’s more from Bloomberg.

Photo from Bloomberg.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.