SOHO spaces trending in real estate

THE emergence of small office and home office (SOHO) trend in Cebu has led property developer Primary Homes Inc. (PHI) to dedicate two levels of the 25-storey Mabolo Garden Flats to this growing market.

A total of 34 SOHO units are featured in the mid-rise residential condominium located at Tres Borces St. This is the first time PHI designed SOHO units in their vertical projects to cater to entrepreneurs and self-employed individuals.

“This will be our market test. Due to the rising entrepreneurship wave in the country, the demand for office spaces arises as startups need affordable and convenient work spaces,” said PHI vice president for sales and marketing Ramiro Espina.

He noted that the growing economic boom in Cebu for the past years led to the establishments of new businesses or startups wanting to operate here. Although the advancement of technology allows them to work anywhere, startups still desire a room to work.

“We’ve seen growth of small and young entrepreneurs wanting to set up offices in their homes. There is a significant demand for rentable office space in condominiums nowadays in the city,” said Espina.

SOHO is an established office within the residence where a micro-enterprise or small business could operate. Its usage is not limited to residential use unlike the typical condominium unit.

During the daytime, a SOHO unit functions as an office. At night, it serves as a living space.

Espina noted the advantage of owning a unit at Mabolo Garden Flats is its strategic location, being near two business districts in Cebu. The residential and SOHO units also offer high investment value because of its accessibility to established city amenities and business districts.

Of the total SOHO units, 50 percent have been sold mostly to locals and investors while the residential units are 70 percent sold.

Espina also assured unit owners they will implement maximum security to ensure safety of both dwellers and visitors.

The units at Mabolo Garden Flats are composed of studio and loft types. The studio units (22.3 sq.m to 27 sq.m) are priced at P1.8 million to P2.5 million while the loft units (44.6 sq.m to 54 sq.m) are priced between P4 million and P4.95 million.

The condominium offers eco-inspired amenities that promote health and wellness. It features an infinity pool, fitness gym, jogging trail, gardens, mini playground, commercial area for laundry, convenience shop, Internet café and diner or café .

PHI targets to turnover the units by December.
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