GREATWORKGLOBAL.COM

LOCAL flexible workspace provider GreatWork Global Workspaces plans to open three new branches in 2026, including its first international location, the company’s top official said.

“Next year, we have three in the pipeline, but we are, of course, timing the market,” GreatWork Founder Jettson P. Yu said in an interview with BusinessWorld.

“We are timing a lot of factors, including global uncertainties and the sentiments of companies regarding the expansion of their footprint around the world,” Mr. Yu said.

The company is eyeing its first overseas expansion in the Asia-Pacific region, alongside two new domestic branches — one in the Visayas-Mindanao area and another in Central Luzon.

GreatWork offers build-to-suit private offices, coworking spaces, meeting rooms, and virtual office addresses.

At present, the company operates three branches in Metro Manila. Its first regional site, located in Bacoor, Cavite, is scheduled to open by yearend.

GreatWork ended the first half of the year with an 88% to 89% occupancy rate, driven by new signups from government and business process outsourcing tenants.

Mr. Yu said the company aims to open at least one new branch every six months.

Founded in 2018, GreatWork was established to meet demand for affordable, high-quality shared workspaces suited for smaller companies.

“In 2018, many office spaces were occupied, and many companies with 100 employees or less wanted to be in nice buildings, but they couldn’t get in,” he said in mixed English and Filipino. “That’s why I started GreatWork to bridge that gap.”

He added that many companies are outsourcing their workspace requirements to focus on business growth and innovation.

Tenant rates are expected to remain stable, Mr. Yu said.

“We work with office building owners with excess space in their building, and we come up with a partnership that’s designed to still make GreatWork competitive in pricing,” he said.

Mr. Yu noted that one of the key challenges for a homegrown workspace brand is overcoming the perception that its furnishings and services are inferior to those of global providers.

“When I started GreatWork, I already made sure that it would eventually become a global brand,” he said.

“What we did, branding-wise, is position GreatWork to focus on quality furnishings, fit-outs, and services. At the same time, we embraced competitive pricing compared to multinationals.” — Beatriz Marie D. Cruz