Demand for co-living spaces seen to go up

CEBU, Philippines — Property developers in Cebu are encouraged to consider building co-living space facilities near business districts, to anticipate the trend of employers getting the bulk of the units for their workers.

Colliers International Philippines’ senior research manager Joey Roi Bondoc made this recommendation noting a popular trend now in Manila, where employers particularly in outsourcing sector are getting units for their employees as traffic is severely affecting productivity among workers.

In an interview with Bondoc, he applauded Ayala Land Inc.’s Cebu Holdings Inc. (CHI) pioneering move in introducing the offering of co-living space in Cebu, through the “The Flats” projects at the Cebu IT Park and Cebu Business Park.

The project, which caters to working professionals and the millennial consumer segment, will open in Cebu Business Park and Cebu I.T. Park in 2021.

The Flats serves those who want to live closer to where they work, avoiding long commutes to free up more time to recharge and enjoy life which is a growing concern for many Cebuanos.

The Flats in Cebu I.T Park will rise along JM Del Mar St. and will have 455 units. It will be a short walk away from Central Bloc, the latest Ayala Mall which will be opening in the last quarter of this year.

The Flats in Cebu Business Park, on the other hand, is located along Mactan Road and will have 397 units.

“Companies now rent rooms in co-living spaces as incentive to employees. More and more corporations are clenching agreements with developers [on this particular segment],” added Bondoc.

This is also one the employers’ attractions to retain workers, Bondoc said.

Co-living is a new kind of modern housing where residents with shared interests, intentions, and values share a living space where they’re almost like a big family.

This trend may slowly replace the traditional boarding-house type of accommodation in Metro Cebu.