CEBU-BASED listed property firm Cebu Landmasters Inc. (CLI) is making its foray into co-living space.

The company announced that it is building The Pad Co-Living located within the Banilad High Street, a 7,500-square-meter mixed-use property along Banilad Road in Cebu City.

The Pad Co-Living is CLI’s first co-living space built for students and young professionals looking for a communal space and flexible housing option.

“We’re happy to unveil our first venture into co-living. The Pad will provide a secure transient home to young professionals like information technology-business process management workers and students seeking well-located, affordable housing that they will be proud of,” said CLI chairman and chief executive officer Jose Soberano III.

A co-living scheme, according to Colliers, is a style of purpose-built residential property, mostly comprising smaller self-contained studio apartments that are usually located within prime locations.

The concept is that residents spend less time within their smaller personal space and more time within the central communal areas, creating a community feel and enabling renters to benefit from the convenience of living in prime locations, while paying more affordable rents.

The two-tower five-story development features 256-room accommodation available for long-term dormitory stays and hostel bookings of up to 440 persons.

The Pad Co-Living highlights a flexible room arrangement for single, double, or multi-sharing occupancy for up to four people. Each 15-square-meter unit at The Pad Co-Living is complete with a bed with mattress, an ensuite toilet and bath, work desk and chair, closet and air-conditioning.

CLI said its fully furnished rooms, curated amenities and soon-to-open retail outlets are purposely built to provide those who are looking for shared living spaces together with people who have similar values, passion, stories and ambitions.

It will also have a roof deck lounge, a shared cooking area, 24/7 security and free Wifi to support work-from-home and hybrid work setups. Adjacent to the building is a rooftop restaurant and swimming pool for hostel guests. (KOC)