FLEXIBLE workspace provider KMC Solutions (KMC) is further expanding its footprint in the Philippines, with the opening next month of its new multi-story site in Makati City.
Its coworking offices will occupy the sixth to the eleventh floor of the Philippine Economic Zone Authority (PEZA)-accredited One Ayala Tower 2. They will have an aggregate floor area of 10,663 square meters (sq m) with 2,133 seats, making it the largest location of KMC this year.
“Our One Ayala site will be a boon to investors who are looking to take advantage of the incentives afforded by PEZA and individual employees who want convenient access to transportation hubs and food and retail establishments,” said KMC Vice President for Marketing Gian Reyes.
The One Ayala site is designed to cater to companies’ need of a workspace that provides an enabling environment for employees that seek companionship. Hence, the site features both traditional workstations and shared spaces that support diverse work styles and allow collaboration with other tenants.
This is a welcome development also for a growing number of firms that gravitate towards a hybrid setup, which mixes onsite reporting and remote working.
“We no longer have to suffer hours in traffic to get to the office,” the top executive said. “Deconsolidation is the way to go. By having access to many coworking spaces, we enable flexibility and convenience while ensuring productivity and efficiency.”
The strong adoption of a distributed workforce strategy among local companies is seen helpful for the office market to still achieve record revenue in 2022 amid the recent low occupancy level, per KMC.
Cushman & Wakefield reported last August that office vacancy rate in the country increased to 16.2 percent in the second quarter of this year from 15.4 percent in the previous quarter.
While traditional commercial spaces struggle with double-digit vacancy rates, Reyes said that they are still optimistic on the growth of its segment with the market’s evolving attitude towards work.
“With the changing needs of both employers and employees, we are confident that the market demand for flexible spaces will continue to grow,” he noted.
Riding on this trend, KMC has further developments in the pipeline before end of the year. Among these is the opening of a 361-seater serviced office with a floor area of 2,047 sq m at Axis Tower 1 in Alabang, Muntinlupa. A 7,251.2-sq m coworking space with 1,301 seats is now under construction at Lexmark Plaza 1 for its scheduled launch in December.
The company completed a 1,150-sq m coworking office with 205 seats at Skyrise 4A earlier this year. KMC will cap 2022 with a total flexible workspaces portfolio of 121,487 sq m of floor area and 23,008 seats in 28 buildings nationwide.
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The article was originally published in Business Mirror and written by Roderick Abad.
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