Officebroker.com is rebranding as Officio to move away from the broker model and aid clients in finding long-term solutions, rather than completing short-term goals.
The Great Room provide premium service for a premium price
Singapore-based coworking space The Great Room is unlike any office in the area, with marble flooring and a stocked fridge with coconut water. This coworking space isn’t for your average, struggling startup; it is made for established professionals starting their own business.
The company’s newest space will take up 15,000 square feet later this year in partnership with Raffles Hotel after a big refurbishment.
CEO Jaelle Ang said that the luxurious space will have a price tag that matches, but clients will be “happy to pay extra for a premium working environment.”
So far, The Great Room is attracting clients such as HSBC, who took up 70 seats at the office company’s One Taikoo Place location in Hong Kong.
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According to Colliers International, Singapore’s overall flexible workspace stock has tripled since 2015 and coworking operators were within the top five occupiers of premium office spaces.
The Great Room itself is smaller than other serviced office providers in the area, especially compared to major brands such as Regus and WeWork.
In 2017, CapitaLand’s venture capital arm C31 Ventures led a $5.5 million Series A funding round for The Great Room, and now the company is preparing for a Series B round of funding.
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Office provider LABS has launched its 96,100 square foot flagship property LABS House in Bloomsbury, London that features coworking, offices, and full-service dining.
Cool office interiors are ideal at first glance, but looking into a company’s principles, such as gender equality and flexibility, will be the factors that retain talent.
Colliers International revealed the success of the office market last year due to high demand for coworking and tech firms, but predictions for 2019 are uncertain.
Shared office space providers as tenants have become the norm for many landlords and building owners, and now many REITs have adopted coworking as it continues to expand.
Brookfield Properties has teamed up with Convene to spruce up the 73,000 square foot Brookfield Place into a full-service events venue that accommodates up to 500 people.
Many coworking operators pride themselves on massive, rampant expansion, but some industry experts believe this growth could lead to failure and consolidation in 2019.