Unlocking a New Era of Co-Living: lyf Cebu City's Grand Opening Delivers the Ultimate Community Experience

Philippines, January 19, 2024 – In a remarkable moment for the Queen City of the South, lyf Cebu City officially swung open its doors on January 16, ushering in a new chapter of co-living and community-centric service. The opening event was graced by Philip Barnes, Country General Manager; Rey Vergel Mulat, lyf Champion (Residence Manager) of lyf Cebu City; Mathias Bergundthal, Director of Hotels and Assets of Cebu Landmaster's; Jose Franco Soberano, SEVP and COO of Cebu Landmaster's; Jose Soberano III, ⁠Cebu Landmaster’s Chairman and CEO; Mike Rama, Mayor of Cebu City; Judy Gabato, Chief Tourism Operations Officer of DOT - Central Visayas; and Atty. Jocelyn Pesquerra, Cebu City Councilor. These notable individuals took the spotlight during the digital ribbon-cutting ceremony, setting the tone for an unforgettable travel experience.

lyf Cebu City is one of the properties developed by Cebu Landmasters INC., Visayas-based firm, alongside Citadines Cebu City, Citadines Bacolod City, and Citadines Paragon Davao.

lyf Cebu City also serves as the perfect launchpad for guests to effortlessly explore the vibrant city. Situated just steps away from the property are an array of lively bars, pubs, and social hotspots, offering a dynamic and exciting nightlife experience.

With lyf strategically located amidst the city's pulse, guests can easily navigate to renowned social areas, ensuring that every corner of Cebu becomes an accessible playground for exploration and enjoyment. Whether it's a trendy bar, a cultural event, or a social gathering, the convenience of lyf's central location ensures that guests are never far from the heartbeat of Cebu's vibrant lifestyle.

 

Vibe with the crew today at lyf Cebu City today with their introduction rates starting at PHP3,000 for their “One Of A Kind” or “Side By Side” (good for two) rooms, their All Together 2BR for P5,500 (good for 4), or the 4BR for PHP10,000 (good for 6). Book your stay through their website at https://www.discoverasr.com/en/lyf/philippines/lyf-cebu-city. For more information and updates about lyf Cebu, follow the official social media pages ( Facebook | Instagram | Tiktok)

Frequent travelers can also get a rewarding experience with the Ascott Star Rewards program. Members under the ASR can earn reward points to enjoy the lowest rates and get access to exclusive discounts and perks. Learn more about the Ascott Star Rewards program via this link.

More Cities Adopt Coworking Model Due to Cost, Convenience and Efficiency

Advancements in mobile technology and modern personal devices have changed the way people work. Working remotely has become more viable and has enabled both employees and employers to work outside the confines of a traditional office space without compromising work product. This has been a major factor in the development of business models and work set-ups designed to bring out the best in the workforce. In the Philippines, especially in Metro Manila, coworking is becoming more and more popular.

Coworking in the Philippines is a trend popularized by the tech savvy millennial generation, who comprise the bulk of the metropolitan sector. Coworking provides an alternative work environment that is conducive for work- without the rigidity of a traditional office.

The demand for coworking spaces in Metro Manila is increasing from freelancers, entrepreneurs, start-ups, small corporations, IT firms, BPOs, and even multinational corporations.

The benefits of cost, increased productivity and convenience are some of the main reasons why coworking has become a viable option for businesses.

Cost is one of the premier reasons why coworking has become popular. Firms looking for office space but need to conserve money, are becoming more and more aware that coworking spaces do not require long term lease contracts; come equipped with fundamental amenities, furniture and equipment of modern offices; and, are more cost effective than traditional office spaces.

Another major factor for the growing demand in coworking spaces is that it increases productivity. Coworking spaces are designed to foster collaboration, cooperation, innovation, creativity and a spirit of community by exposing people to new business concepts and encouraging the exchange of ideas.

Convenience is also a significant consideration why coworking spaces in the country are in high demand. MNCs that mostly use office spaces as temporary or swing spaces are recognizing that coworking spaces are convenient and provide them with the ability to move in and out of an office space at short notice and avoid complicated contract negotiations, fit out work, and dealings with brokers, landlords, and property managers.

The real estate industry in the Philippines is growing rapidly and coworking spaces have become a significant driver of property demand. In fact, both foreign and local flexible space operators as well as real estate developers have recognized this opportunity and are developing all types of coworking spaces around Metro Manila.

Lobien Realty Group (LRG) says Makati and BGC are currently the preferred locations for establishing coworking sites and have the largest number of coworking spaces because of the heavy concentration of businesses in these areas. Currently, the five companies handling the biggest chunk of the country’s coworking spaces have, more or less, 33 thousand seats on the market. LRG, for one, is currently handling Work Studios located at the Infinity Tower in BGC. With a total of 172 seats, it also boasts of 122 private studios, 3 meeting rooms, 31 dedicated desks, 19 hot desks, 18 breakout areas, and 27 lounges.

And as the trend of coworking gets more and more popular, LRG predicts that the property markets in Quezon City, Ortigas and Alabang will benefit next.