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SOHO : Small Office, Home Office / & Co-working properties


Six Smart SOHO Spaces / for Millennials with Home Based Jobs

... Plus some Makati area Co-WORKING spaces (see post #5, below)

  • September 30th, 2015

Are you a freelancer who aspires to be a homeowner in the near future?

Freelancers who are serious in their line of work consider their home offices sacred in order to achieve this dream. As such, a small office, home office (also called as SOHO), is a must in every freelancer abode.

The small office, home office concept allows freelancers and even small entrepreneurs building their startup companies, to invest in a condominium for sale as their place of business or headquarters. This is so they won’t have to worry about the costs of renting a separate work area.

We list down different condominium projects around Metro Manila that make a perfect SOHO for today’s budding freelancers and self-employed professionals.


1. Avida CityFlex Towers BGC



One of the best places for startups, having your own SOHO in Bonifacio Global City is definitely a great advantage for your business. Avida CityFlex Towers BGC is in proximity to international schools, shopping malls, restaurants, and even parks.

  • Location: 7th Avenue cor Lane T, Fort Bonifacio Global City, Taguig City
  • Developer: Avida
  • Project Status: Preselling, Turnover 2015

2. AMA Tower Residences



Need a flat or multi-level unit layout to accommodate your workspace? AMA Tower Residences redefines SOHO by giving you different options and allowing you to customize your space. Complemented by its central location along EDSA and Ortigas, you’ll certainly build your business in no time.

  • Location: EDSA cor., Fordham St., Wack Wack, Mandaluyong
  • Developer: AMA Land Inc.
  • Project Status: Preselling, Turnover 2016

3. 8 Adriatico



Featuring a location and amenities that are perfect for a SOHO, 8 Adriatico provides good value for money. There are two dedicated elevators for SOHO units, so your clients have exclusive access to your “office space.” And when work is done, you can unwind and take a dip in the swimming pool.

4. Eton Tower Makati


(Image source: www.eton.com.ph)

Enjoy a prime address in Makati Central Business District when you live in Eton Tower Makati. Located in the relaxed neighborhood of Legaspi Village, working from home is going to be more stress-free. Want to step out and clear your mind for a couple of minutes or get new inspiration? Drop by Washington Sycip Park or Legazpi Active Park, and bask in the greenery. Or you can also explore different holes-in-the-wall restaurants and grab yummy signature dishes or snacks.

  • Location: Dela Rosa Street corner V.A. Rufino Street, Makati City
  • Developer: Eton Properties Philippines, Inc.
  • Project Status: Preselling, Turnover 2015

5. Victoria de Manila




Planning to meet with a client, take a quick break, or purchase something for your project? Victoria de Manila lies in a prime area in Manila where the LRT station and Robinson’s Place Manila are within walking distance.



6. Entrata Urban Complex



One will certainly enjoy the best of both worlds in Entrata Urban Complex. This SOHO features a commercial facade that makes this property look like a legitimate office space. And yet, once you step inside, the building has a welcoming and homey feel. Its strategic location in the heart of Filinvest Corporate City makes sure you are accessible to everything that matters to you and your business.


> source: http://www.zipmatch.com/blog/soho-for-millennials-home-based-jobs/


LINK to here: http://tinyurl.com/soho-ph

StartupBlink coworking network : http://www.startupblink.com/coworking

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Avida City-flex BGC - Launch 2011-12



MAP : FULL size : CityFlex is #6, 34th St is #7 / #3 is BGC "Uptown"


Units and Floor Plans

Avida CityFlex Towers BGC offers true flexibility in planning your home. You can choose from studio to 2-bedroom units that are carefully customizable, depending on your needs and preference. SoHo (Small Office Home Office) units are available as well. These are units that can be converted into offices for small enterprises, firms, or even clinics, making a pleasurable, work-from-home experience a true possibility for you.

SoHo Units
Approx. 40.39 sqm.
Area range : 36.49 to 61.79 sqm.


Overall Prices?:

Number of Towers‎: ‎2
Unit Sizes‎: ‎36 SQM to 65 SQM
Original? Price Range (VAT Incl.)‎: ‎PHP 3.1 M ( / 36 = P 86k) to 6.3 M P ( / 65 = P 97k psm) ...
Number of Units‎: ‎Tower 1: 377 Units, Tower 2: ...
SOHO Units -Approx. 40.39 Starts at 4M - per Nov. 2011, SSC
(note; in 2012, with a change in VAT threshold, some Resi-units went from P3.8 to P3.2mn ?)
May 2012 : "the 14th floor is still non-VATable"
I saw the bare units for CityFlex, not as good as those for 34th. The project at 9th Street, I did not even look at.
34th is supposedly to be a bit more upscale than cityflex. That is included in the sales pitch of 34th.

-#105-SSC : http://www.skyscrapercity.com/showthread.php?t=1445780&page=6
Cityflex kasi eventhough in the same 34th St is actually marketed as a quasi single office / home office / residential building and as such there is a good possibility there will be much activity going on in the building than normal and as such will probably have more wear and tear on the common areas which could have an adverse effect on HOA (Home/Unit Owner Association) dues. It might also be noisier and offer less privacy for residential unit owners
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  • 4 weeks later...

Growing popularity of Coworking space... even in new developments

Philippines property developers are now using Coworking spaces to promote their developments

Example: The Ellis in Salcedo Village, from Megaworld

This development is in a similar location, and has similar pricing to The Gentry, from Alveo (Ayalaland) - over P 160k psm
To distinguish it, Megaworld has launch advertising and publicity, such as an article on pg.A3, of today's Philippines Daily Inquirer:
"One Size doesn't have to fit all:
Megaworld's unique residential tower in Salcedo Village reflects the passion and creative individuality of young go-getters."
Combined with several pictures, are are some descriptions from the article:
+ One of the property's highlights is the CoLAB Shares spaces, which is a creative, non-conventional working space where residents can simply walk in, grab a cup of coffee, plug in their laptops and work peacefully, and expand their networks with like-minded individuals (Hey, you can do that at Starbucks too, and THEY pay rent.)
+ They also advertise their so-called LINK unit studios: "Rent it out, or possibly turn it into your own home studio" - like Alveo's Investor Units: 2BR+ Studio
> MegaworldMakatiCBD.com

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  • 1 month later...

PROPERTY section / today's Philippine Daily Inquirer, Dec. 3, 2016


What Millennials Want from the Housing Market






Avida CityFlex Towers BGC has been thoughtfully planned to enable future residents to enjoy the flexibility of designing their space to truly fit their needs. Buyers have the choice to buy the project's SoHo (small office home office) units for an affordable work-from-home lifestyle.

Located at the corner of 7th Avenue and Lane T at BGC, the Avida CityFlex Towers offers these SoHo units (ranging from 36.49sqm to 61.79sqm) from P4.6 million (xx psm) to P7.7 million (xx psm)


In OLX, we see:

Last 2 SoHo Units in Avida Cityflex BGC

₱ 7,280,000 / 45.44sqm = P 160.2k psm - that's from the developer, Avida


P 8,595k / 47.08sqm = P 182.6k psm
P 8,595k x 96%: 8,251 - 80k = 8,171k / P 173.6k psm, based on the following:

4% Discount for all CASH Offers : on or before Dec 10, 2016 entitled to a an additional 80K Discount.
SOHO or Small Office Home Office are units that can be converted to either residential or small office such as small enterprises, clinics, brokerage firms, ad agencies and the like.
If you provide a professional service, e.g Accountant, Lawyer, Doctors and Dentist, etc. then this may be the perfect fit as the location is just right behind St. Luke's Medical Center and right beside the The Grand Hyatt.


In Zipmatch, we see:


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  • 2 weeks later...

Best Co-working spaces in Makati



Acceler8 : Map :


1. Acceler8, 7f Finman Bldg., 131 Tordesillas St., Salcedo Village : www.acceler8.ph

"for a bigger group, Acceler8 has private offices perfect for group meetings & group projects"
2. A Space Manila, 110 Legazpi St., Makati (biggest in manila) : www.aspacemanila.com

"perfect for events and parties for its rentable gallery and kitchen"
3. MyOffice, 3rd fl. Builder's Ctr., 170 Salcedo St., Legaspi Village : www.myoffice.com.ph
4. O2 Space, unit 330 Milelong Bldg., Amorsolo cor. Rufino St. : www.manila.coconuts.co

"for commuters, 02 Space is easily accessible by public transport and serves in-house food"
5. Penbrothers, 100 C Palanca, Legazpi Village, Makati : www.penbrothers.com

"workspace you can rent however long you may need, has admin services & unlimited coffee"
*(comments in italics, per Adobo Mag.)
> selected by : http://www.madmonkeyhostels.com/?h2o_blog=best-co-working-spaces-manila


Other co-working spaces, per Adobo magazine (Issue #65, Sep-Oct. 2016)

+ Warehouse Eight - (visit, post #8) Warehouse 8-A, La Fuerza, Piaza Makati
"besides their in-house cafe, their grass room (no shoes), is perfect for meetings"

+ Mozilla Community - Molave Bldg., Chino Roces Ave, Makati
"starting out... doesn't charge anything for their services yet"
& Palet Express - Roof deck, Molave Bldg., Chino Roces Ave, Makati
"work better when you are active; has its own gym"
+ Impact Hub Manila - 5th fl. Green Sun, 2285 Chino Roces, Makati
"if you work better in a team - encourages a tight-knit community of collaborative work"

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"Side Hustling" : What is it?


Megaworld is helping to promote a new term, in its promotion of The Ellis


(from an advertorial in today's Manila Bulletin):

Side Hustling: The Latest Passion-pursuit phenomenon

THE ELLIS empowers the go-getter lifestyle with Megaworld's first ever Link units


+ Thanks to generational behavior and increase of opportunities easily accessed online today,

the lines between living and working are getting blurred, creating a new kind of working lifestyle: side hustling


+ What is "Side Hustling"?:

A hobby, service offered, or freelance pursuit outside the usual 9-5 fulltime job, and another way to generate income


+ Includes activities like: freelance events planning, web designing, tutoring, consultancy, arts & handicrafts, online selling,

OR: renting out your car, or extra property space

This activity: Enhances income, while "empowering one's entrepreneurial tendencies" - ie. allowing experimentation,

in a way that may transform a side gig into a new career


+ To be an effective side hustler, you need to stay ontop of everything that is happening...

And it is easiest to do that with a well-designed designated living and working space in Makati's CBD


LINK UNITs can provide : a highly suitable space for dual activities:

+ A foyer connects two units, so you can live in one, and have your business next door;

+ The side unit can accommodate: a home office, a photo studio, a workshop area, a commissary, or other small business

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  • 1 month later...

Shift towards Office Space and Office use of Condos?


This is being talked about more and more, as the realty of OVERSUPPLY becomes more apparent in the Residential sector.

The ads and articles will not tell you this, but the Vacancy rate for Residential flats in Makati is now probably over 10% -

versus maybe 1% of Office space. And this comes at a time, when Residential completions are running at record levels:


In 2017, perhaps 25-30% will be added to Residential condo supply. Even a remarkable take-up rate of more than 20%, is likely to push up the vacancy rate to 15% or more by the end of 2017. This does not bode well for Rents and prices of residential flats. As developers are seeing resistance to further price rises, they are beginning to push the concept of Home-Offices, Small-Office/Home-Office (SOHO), and mixed use.


So we are seeing articles with headlines like this: ( SS-53, in Manila Bulletin, 2/2/2017)


Lack of space in metro pushes developers to go 'mixed use'


"For decades, the term 'mixed use' was utilized by developers to inform buyers that a home or unit the are purchasing is not only for residential use but may be for commercial use too."


... most prominent reason... the traffic situation is not getting better... cars on the roads are doubling or tripling on roads that are not expanding...

... moving from Makati to Quezon City takes over an hour when it should be a 20 minutes drive


Considering this, developers have encouraged the rise of SOHOs or the "small office, home office" concept. With their buildings equiped with Internet fiber connections, working at home suddenly seems possible. Online conferencing is doable and online selling becomes a lucrative endeavor.


... everything a resident needs is just a few steps - or even an elevator ride - away

... For relaxation, there's a roof deck; for personal needs, there's a coffee shop, a courier, a clinic at ground level.

... For businesses, the mixed use building even has spaces such as conference rooms, audio-visual rooms, even a private theater


Some projects mentioned in the article include:


+ Rockwell Primaries' The Vantage at Kapitolyo in Pasig : with a 2-storey retail area

+ Greenfield's Zitan Residences, which is directly connected to the metro, and has fiber connectivity

+ Ayala Quezon City development has been called "a city within the city", where mixed use living is highly practical

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Warehouse 8, off Chino Roces :


> http://www.warehouse-eight.com/spaces/

Walk Through the Warehouse (of W8)


Today, I visited warehouse 8, which is just off Chino Roces, in the second row of warehouses in a large complex.

Most of the other warehouses are for art-galleries, furniture stores, and at least one "underground" music and night club venue.


I spoke with kayla D, who is one of the owner managers of the space, and she was welcoming and freindly and gave me a good description of the W8 activities.

During the day, up until 6-8pm they provide co-working spaces and small offices for start-ups and businesses.

The basic cost is p500 per day, and there are savings if you sign up for 20 days within a month (35% discount), or 20 days withing three months (15% discount.)


The space is relaxed, and there is also access to a coffee an dining area.

Once I got signed on,m my internet connection worked well.




The large internal space is also an events venue in evenings and on weekends. They have had as many as 150 people at musical events held there, though for that number, people will be sitting on the floor.


Warehouse Eight sparked to life with the idea of providing a flexible and creative space for making ideas happen- be it a business or an event, we're the Warehouse in the artsy compound of La Fuerza Makati where Makers make.


> http://www.warehouse-eight.com/about/

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  • 1 month later...

Demand seen rising for flexible work spaces (business World, today)


+ Supply of co-working spaces is expected to rise by 10% annually, over next 3 years

+ Presents "the biggest opportunity for property developers" in the Philippines, with office rents rising 5-7% pa

+ Pioneers established themselves in 2011, but there is still no clear leader

+ Co-working spaces are about 5% of the total Office space

+ (Nearly?) all are 500 sqm or less in size

+ Many property developers have start to "look at the market" - and Colliers is recommending this type of flexible working environment by included in future projects

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  • 2 weeks later...

CLOCK-IN Unveiled - Ayala is entering the Share Office space market


+ Pricing is P550 per day per head

+ First location: penthouse of the Makati Stock Exchange building on Ayala Avenue

+ Clock In affiliate : "Will play an important role in all our new developments"

+ Beng set up in partnership with Aceler8, who is manage and market the space

+ Set-up cost is P25-35,000 per working space to build it (in an existing space?)

+ Clock-In is being positioned as a Premium co-working space


What is needed: telecommunications and internet, air-conditioning, and other facilities.

Plus: informal work set-up, ie: reception, conference room, pantry, security, sanitation and parking

Ayala will add prime locations


/ 2 /

Flexible Working Spaces to grow 10% (says Colliers; Randwil Dinbo Macaranas, Sr Mgr)



(Category)- : Serviced----- : Hosted------- : Co-working :

Year Began : 1999 --------- : 2008 --------- : 2011 ---- :

Locations--- : Primary ----- : Some CBD's : Mostly fringe

---------------- : major CBDs : mostly fringe : some CBD

Bldg. Grade : A, some B... : B, some A.... : B Only.... :

Typical Size : 1000-1500... : > 2,000 sqm : < 200 sqm

Tenant type : multnationals : BPO's sm co : Freelance, start-ups

Aver. Cost - : P19,000 /mo. : P14,000 /mo.: Daily use P500/d

Uniqueness : Prime, and--- : Non-core &.. : Collaboration

---------------- : multiple loc.s : back-office... : Events, seminars


Estimated total stock of flexible spaces has reached 228,000 sqm in Metro Manila

And this is expected to grow 10% a year for the next three years


Co-working spaces were pioneered in 2011, and so far no single player dominates the space.

Colliers believes operators may start buying traditional offices and converting them to Co-Work.

Ayala now views Co-working spaces as "amenities" in its office buildings


/ 3 /

5 Best Cities to launch a Start-up


1. Quezon City

"Considered the incubator for businesses of all sizes" / cost advantage ?


2. Makati City

"Financial capital" with over 62,000 business enterprizes, and 1,159 BPO co's

More expensive, but still growing


3. Manila

"Heart of the City" and a major center for finance, tourism, real estate.

Also has shipping and ports. "The most dense city in the world"


4. Angeles, Pampanga

Home of an emerging technology industry; plus tourism and gambling.

Formula One racing may come there


5. Pasay City

One of the four original cities of Metro Manila - has top airlines, & govt offices

Growing center for international congresses, trade exhibitions


(Articles from the back page of today's Malaya Business Insight)

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  • 1 month later...

CO-WORKING / Short Term Offices in Hong Kong


Need short term Office space in HK?

There are many ways to find it:


So I am about the start my own business with my partner and was trying to look for office space (Ideally in HK Island side)
Been to several property agents but the offices they shown us were either too expensive or gotta sign for 2 years. We don't want to be tie up to a fixed contract, anyone has suggestions?
We heard from our friends that we work used to give out free spaces, do they still do that now? Or any similar type of such co-working space?
We have also heard that there is a website called quikspaces that allows people to rent and shared office, anyone tried that before? Is that legit?




Some friends of mine have recommended this:
They are based in HK, and their biggest selection in also Hong Kong.
They are like AirBNB for business


From Ed, AX's moderator:



(one of the posts):

s--w--- (6 hrs ago)

Hi there,
So I had the same situation with you 2 months ago, I asked my friends and they recommended me to here.
Luckily I found a shared office here (you can find it from the classifieds) and share the office with another expat who has recently downsized his company.

In my opinion, it also depends on which area you would prefer, Wan Chai is close to all government buildings so you can handle all the documents stuff (It's a bit of a headache but you will figure it out eventually)
CWB is also a nice area but personally I think it's a bit too crowded (with all the tourists)
While Central and Sheung Wan are close to all major banks headquarters (although you might not be able to get a bank account....)

There are plenty of co-working space right now and you can google them by area.
If you dont wanna do all the searching, the website that you mention (Quikspaces) actually gathers most of the spaces here in HK and they also offer some shared office.
My other friend used them to find a shared office in Kwun Tong just last week so i think they are legit.
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  • 2 months later...

EYE-PODS provide privacy in Open plan spaces

Because privacy has proved essential to productivity as the trendy open space for collaboration



TODAY's office design trend is all about open space - large room, long table, no partitions -everybody can see everybody.
The idea behind this concept is to encourage more collaboration, thus increasing productivity

+ Some people think that open space do not work, because they eliminate privacy, and endanger concentration
+ Employees may have to endure excessive noise and distractions

A French design company, Clestra Hauserman, has come up with a useful tweak: "Irys", a flexible office pod/box for open space offices

+ Irys won the Red Dot Awards 2016, besting around 5,000 products from 57 countries
+ Irys has partnered with Ultra Modular Concepts (UMCI) to bring the concept to the PH

A whole pod comes equipped with lighting, power outlets, and ventilation, and has a good accoustic rating.
It is not attached to the buildinng, so if you want to move it, you can.
If a client wants to move, the pod can be dismantled, and reinstalled quickly
But Irys "does not come cheap"

(Notes from Lifestyle, pg. G-4, Manila Bulletin, Sunday 3 July 2017)

> http://lifestyle.mb.com.ph/2017/07/23/eye-pod/

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  • 5 months later...

Property owners scramble to adapt to world of WeWork and Airbnb

Commercial and residential landlords are changing their business models
The desire for flexibility among commercial property occupiers is also causing changes, particularly in response to the rise in popularity of WeWork, the office space company backed by Japan’s SoftBank.

Industry executives say some companies no longer want long-term leases, or even their own front door, but are looking for flexible space that they can increase or decrease as required.

WeWork has even bought the flagship New York store of 191-year-old department store chain Lord & Taylor, which will be renting floors from WeWork from the new year .

MORE: https://www.ft.com/content/ebea324e-e421-11e7-8b99-0191e45377ec


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  • 8 months later...

Concepts from Hong Kong

Atlas Guest House & Backpackers


> https://www.airbnb.com/rooms/10819774

> AirBNB:  https://www.airbnb.com/rooms/8768929

/ 2 /


As nano flats boom in Hong Kong, new businesses offer big ideas for small spaces | South China Morning Post

Creative service providers include storage locker proprietors and those who run 24-hour laundromats, transforming domestic challenges into solutions
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Co-Living too !

Ayala hops on co-living space trend

A new residential development made for young urban professionals is soon to rise along Amorsolo Street in Makati City.


P 6,250 introductory rate - for six months only (should Rent-up Fast!)

Premier real estate developer Ayala Land is redefining the co-living trend in Metro Manila with the opening of The Flats. The 15-story development features co-living spaces for lease, designed to revolutionize the way yuppies rent in the city. It’s hip, trendy and, above all things, it is close to both work and recreation. 

“Ayala Land has always been responsive to the needs of young urban professionals who aspire for a perfectly balanced life. Co-living is an urban lifestyle concept that offers an affordable alternative to lengthy commutes and paying expensive transportation fares,” shares Shiella Aguilar, Makati project development head for Ayala Land.

The Flats Amorsolo eliminates the need to rush from home to office. It’s located within a five-minute walk to Ayala Avenue and near Dela Rosa Walkway, thereby offering a practical solution for on-the-go professionals who are challenged daily by long commutes and traffic jams.  The co-living units are available for a one-year minimum lease term. Up to a maximum of four occupants can share a co-living space. Units for three and two occupants per room are also offered. These co-living units are perfect for long-time friends, officemates, and professionals who want to meet new flatmates to grow their network. 

> : http://www.bworldonline.com/ayala-hops-on-co-living-space-trend/

/ 2 /

In a statement, ALI said the 15-storey building, located along Amorsolo Street, features co-living spaces catering to young urban professionals who are tired of their long commute to their offices in Makati.


“Ayala Land has always been responsive to the needs of young urban professionals who aspire for a perfectly balanced life. Co-living is an urban lifestyle concept that offers an affordable alternative to lengthy commutes and paying expensive transportation fares. We’re glad to announce that The Flats Amorsolo is now open,” Shiella Aguilar, ALI Makati project development head, was quoted as saying.

The Flats Amorsolo boasts of a central location in the business district, as it is within a five-minute walk to Ayala Avenue and near the Dela Rosa Walkway.

Co-living units are available for a six-month minimum lease term. Each unit can host a maximum of four occupants. There are also units designed for three or two occupants.

ALI said the units are designed for optimal space usage, with built-in beds, built-in cabinets, individual desk spaces, air-conditioning, a kitchenette, and an en suite toilet and bath with shower. Occupants are given an electronic key card.

The building also has a lobby and reception area with basic service shops. Parking spaces are also available for lease.

>  July 18, 2018 : http://manilastandard.net/lifestyle/wellbeing/270795/co-living-spaces-for-young-professionals-in-makati.html

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ALI's Flat Amorsolo - Images

For more information about The Flats Amorsolo, visit theflats.com.ph


“Ayala Land has always been responsive to the needs of young urban professionals who aspire for a perfectly balanced life. Co-living is an urban lifestyle concept that offers an affordable alternative to lengthy commutes and paying expensive transportation fares. We’re glad to announce that The Flats Amorsolo is now open. ” shares Shiella Aguilar, Makati Project Development Head for Ayala Land.






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  • 4 weeks later...

Co-Living: dormitel with "hotel-like amenities" coming to SanAntonio/Little China area

The GRID, Co-Living

> LINK ( Affordable, Co-Living in Makati thread )

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Bui Trung Kien of Savills Vietnam offers insight into how co-working space has revolutionised the real estate market. 

The real estate industry is undergoing fundamental shifts to reflect social change, rewriting the rulebook on how property is viewed and used. Technology has been a primary driver, enabling:

  • Accessibility to services, rather than ownership of space, leading to the rise of flexible offices, co-living environments and Airbnb
  • The stratospheric rise of e-commerce, leading to new forms of logistics property to satisfy last mile delivery and click and collect
  • Employment becoming more flexible and the gig economy emerging, with co-working appearing in all industries

Consumers now demand flexibility, service, experience and convenience of everything they use, including property. Real estate must not just satisfy a need, but also wider aspirations, desires and lifestyle choices, for example:

  • An office does not just provide a desk, but experience, collaboration and promotes work-life balance
  • A shop does not sell goods to satisfy needs, but offers an experience by embodying philosophies and lifestyles to fulfil aspirations and desires or convenience, to give time-poor consumers what they need quickly so they can get on with their lives
  • A home does not just provide accommodation but delivers a lifestyle, wellness benefits, comfort and a high quality of life

Users want vibrant, urban, livable, walkable, accessible environments where ideally all these aspects can be fulfilled.

> More: https://www.retalkasia.com/blog/bui-trung-kien-savills-vietnam/services-space-co-working-and-revolution-real-estate/savills

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  • 3 weeks later...

Ayala's Flats Amorosolo, with 720 units is close to this in Size.

PH has some very similar COST issues

World's largest dorm-style 'co-living' building...

SAN JOSE — The latest trendy new apartment building coming to downtown San Jose will offer plenty of luxury amenities, including cleaning services, laundry and dog walking. The catch? Each resident will share a kitchen and living room with at least a dozen other strangers.

The nearly 800-unit building, set to break ground early next year, is the latest project to embrace “co-living” — a dorm-like set-up where residents sleep in small private bedrooms and share common spaces, as a way to pack more people into a building and keep rents down. It’s a lifestyle that’s becoming increasingly popular as Bay Area residents, grappling with sky-high housing costs, are forced to find ever-more creative ways to stay afloat, and developers are encouraged to come up with innovative methods to house more people faster.

The San Jose project will be the largest co-living building in the world, according to its developer, San Francisco-based communal housing startup Starcity. The company also has a 270-unit co-living building in the works in San Francisco’s SoMa neighborhood. The two projects, both slated to open in 2021, will be the startup’s first attempts at building from the ground up instead of renovating existing buildings. Together they mark a major expansion by Starcity, and would increase the company’s existing inventory by more than 10-fold.

“I think about actually making a dent in the supply to the point where people who are somewhere else in the country, or living nearby, or commuting hours and hours and hours can say, ‘OK now there’s a way for me to get into the city,'” said Starcity co-founder and CEO Jon Dishotsky. “Commuting is a pain in the butt, fitting four people to a two-bedroom is a pain in the butt and paying 70 percent of your income is not enjoyable.”

Starcity, which originally bought empty or underutilized residential and commercial buildings and turned them into housing, made its co-housing debut by converting a Victorian house and garage into a six-unit shared living space in San Francisco in 2016. Now the startup operates 81 units in five buildings — four in San Francisco and one in Los Angeles. In the next year, the company plans to finish another 600 units in San Francisco and more than 400 in Los Angeles.

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  • 10 months later...

Megaworld-WeWork deal seen to draw more foreign firms to Philippines

Coworking firm WeWork can attract foreign companies looking to set up shop in the Philippines, says Megaworld


MANILA, Philippines – Megaworld Corporation is expecting more multinational enterprises (MNEs) to locate in the Philippines through its partnership with United States-based WeWork.

WeWork, which designs and builds coworking spaces, recently began operations in the country.

Megaworld senior vice president Jericho Go told reporters on Wednesday, March 6, that having WeWork set up its first space in Uptown Bonifacio, Taguig City, will allow foreign companies eyeing the Philippine market to test the waters.

"The advantage of having WeWork is they are able to supply the Philippines, not just Megaworld, with a fresh set of multinational companies, some of which haven't started operations in the Philippines," he added.

Go, however, noted that they are not after the quantity, but quality of future clients looking for permanent, larger, and built-to-suit office spaces. (READ: Building a case for working in a coworking space)

"Some of those are really startups, and there are a few that are established. What you really want to get are the established brands because these are the guys that are happy to sign big spaces and long-term leases," he said.

OPPORTUNITIES. Megaworld senior vice president Jericho Go tells reporters how WeWork partnering with them will bring more foreign companies to the Philippines. Photo by Anna Mogato/Rappler

OPPORTUNITIES. Megaworld senior vice president Jericho Go tells reporters how WeWork partnering with them will bring more foreign companies to the Philippines. Photo by Anna Mogato/Rappler

"[It's] very important for a developer like Megaworld to ensure that you have high-quality MNEs, Fortune 500 companies [as clients] to get for longevity and sustainability."

The firm is eyeing to reach P20 billion in terms of rental revenue by 2020. This includes commercial and retail sales as well.

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As of end-Q2 2022, flexible workspace stock in the capital region reached 202,300 square meters, accounting for about 2% of Metro Manila’s office stock. In Q2 2022, we recorded Metro Manila flexible workspace vacancy dropping to 20%, from 38% posted in Q2 2021. In our view, demand for flexible workspaces will likely be driven by multinational corporations and outsourcing firms on a wait-and-see and are looking for swing or temporary office spaces. To capture the demand, Colliers recommends that landlords explore partnerships with flexible workspace operators or launch their own co-working brand. Meanwhile, tenants should consider incorporating flexible workspaces into their real estate strategies, especially companies which are likely to implement hybrid work arrangements.

> https://www.colliers.com/en-ph/research/property-market-intelligence-areit-growth-target-iwg-regus-franchise-center-las-pinas

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