AYALA-LED Cebu Holdings Inc. (CHI) announced it has started the construction of its latest real estate project, The Flats, to address the growing demand for shared living spaces in the city.
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 in Cebu I.T Park will rise along JM Del Mar St. and will have 455 units. The Flats in Cebu Business Park, on the other hand, is located along Mactan Road and will have 397 units.
“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,” CHI said in a statement.
The project is envisioned to complement the diverse residential and commercial developments in the two most progressive districts of Cebu.
The Flats in Cebu I.T Park and Cebu Business Park offer well designed co-living units that can accommodate a maximum of four tenants. The bed space for lease will be available for short-term and long-term leases.
Each unit offers innovative storage solutions and a private bathroom giving tenants the privacy they need while living with others. Support areas for basic retail amenities such as laundry shops and convenience stores will also be made available.
The project eyes to tap the student and young professionals market in Cebu.
This co-living space concept in Ayala was initially launched by Ayala Land Inc. The group now has two projects located in the Makati Central Business District and Bonifacio Global City. (KOC with PR)