Based on the call for flexible task forums in the country, Filinvest Land Inc. (FLI), one of the leading Filipino developers, and KMC Community Inc. (KMC), a global provider of coworking spaces, have announced the launch of their joint venture (JV), Our Space Solutions Inc. (OSSI), with the inauguration of the first two of its shared offices called FLX at Axis Tower One in Filinvest City’s Northgate Cyberzone.
Their joint venture agreement covers the creation, operation, development, control, and maintenance of flexible workspaces. This includes providing personal seating and coworking arrangements in advertising buildings across the country.
“The rise of remote painting has particularly reshaped the workplace landscape,” said Tristan Las Marias, president and CEO of FLI, the signing rite of the pact held on April 25 at OSSI’s first co-painting areas in Alabang, Muntinlupa. “Our partnership with KMC, an identified leader in the co-paint industry, allows us to meet this growing demand with innovative and adaptable responses under the Our Space Solutions Inc. brand, and rental solutions for additional supply options to decorate the profession of FLI and FREIT work areas. Array”
Michael McCullough, CEO of WorkSpace Solutions and co-founder of KMC, said he was excited to be working with a lead developer like FLI as they plan to become the “leading provider of flexible workspaces” in the country.
“We are thrilled to partner with Filinvest Land Inc. to introduce OSSI. By combining KMC’s global network and expertise with FL’s established presence in the Philippine market, we are confident that OSSI will be an industry leader in the coworking area here,” he said. logged.
Bringing their extensive experience in designing and managing colorful coworking communities, FLX tenants, he said, can expect “maximum flexibility” and “highly conducive environments” with well-thought-out workout, mind-body, and dorm spaces, as well as on-site clinics, sufficient meeting space, and web and audio-visual systems.
Filinvest REIT Corp. (FILRT), the company that owns Axis Tower One, is waiting for a new tenant here.
“We are excited to welcome OSSI as a valuable Axis Tower One locator. This state-of-the-art partnership perfectly complements the dynamic and forward-thinking environment we seek to tame within our buildings,” said Maricel Brion-Lirio, President and CEO of FILTRAR.
She is confident that tenants will continue to enjoy the “green” features of this LEED Gold-certified building, adding a 100 percent solar-powered formula starting in June. OSSI plans to open more coworking spaces at FLI’s offices in Makati, Quezon City, and Pasig City.
Positive reception
FLX is a welcome progression for the entire market, which according to Joey Bondoc, director of Colliers Philippines, recorded a “significantly higher vacuum rate” in Metro Manila, with a rate of 19. 3% last year, up from 5% as a peak before the pandemic.
“The good news is that this accumulation of vacancies in the sector in general is having consequences. And that’s the curvy area. In fact, the vacancy rate for curvy areas in Metro Manila fell to 16. 7% by the end of 2023. “quoted. ” [This is] certainly a big improvement, because at the height of the pandemic in 2021, the vacuum rate in the flexible area market even increased to 41%. “
Jack Madrid, president and CEO of the Business Process and Information Technology Association of the Philippines, said the launch of OSSI and its shared offices is a “great example of the long-term that will lead our industry. “
Current trends reveal that workspace design needs to be done more creatively with the worker experience in mind, which means more collaborative and open spaces to train, work, and relax. In addition, the constant evolution of the hub-and-spoke style has led to a clever expansion of microsites and satellite offices.
“Many of our investors, who may have just introduced their first presence in the Philippines, want the flexibility to start with a more manageable number of workers and a more limited workspace. This type of workspace provides them with that flexibility,” Madrid said. .
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