Filipino coworking office provider GreatWork eyes int’l market
GREATWORK Global Workspaces, a Filipino coworking and serviced office provider, said it plans to expand nationwide and open its first international branch within two years.
“GreatWork is eyeing to make its first international expansion, being the first Filipino-owned to go global,” GreatWork Director Jettson P. Yu told BusinessWorld last week.
“We’re expanding GreatWork over the next 24 months in strategic locations across key cities and provinces nationwide,” he said.
GreatWork provides build-to-suit private offices, coworking spaces, meeting rooms, and virtual office addresses. It currently has three branches: two in Quezon City and one in Mega Tower, Mandaluyong City.
“We focus on where there is organic demand. So, we’re currently in talks with building owners who have one or two floors that are unproductive and want to make them productive,” Mr. Yu said.
Launched in 2018, the company has outgrown its pre-pandemic sales, posting a 736% absolute growth rate, according to German online data platform Statista.
The company also handles its own construction, sourcing materials and furniture directly, which helps reduce its costs by up to 30%, Mr. Yu said.
“In Metro Manila, the average cost for a Grade B standard office is around P30,000 to P32,000 per square meter. GreatWork can give it to you for P19,000 to P24,000,” he added.
Its tech-powered, modern workspaces feature ergonomic furniture, natural lighting, Wi-Fi connectivity, power sockets, and coffee sourced from local farmers.
GreatWork’s clients range from government tenants to freelancers and multinational firms such as PricewaterhouseCoopers, Concentrix, and IBM.
At present, its three branches have an average occupancy rate of 92%, Mr. Yu said, and the company is targeting full occupancy this year. — Beatriz Marie D. Cruz
