Cebu-based property developer ventures into co-working space
Cebu Landmasters Inc. (CLI) is venturing into the flexible workspace market.
The company said in a statement on Monday it has unveiled the first site for its co-working space, WorkNook, at Base Line Center, Juana Osmeña street, Cebu City.
“As Cebu emerges as a hub for remote work and startups, WorkNook offers freelancers, small businesses, start-ups and students a flexible, accessible workspace tailored to modern professionals,” the company said.
“WorkNook addresses the demand for alternative work environments with private offices, co-working areas, and fully equipped meeting rooms, complemented by amenities such as high-speed internet, office-grade furniture, and a pantry with coffee. Its strategic location provides professionals with convenient access to dining and leisure options, combining productivity with relaxation,” it added.
CLI said WorkNook is a milestone in the company’s diversification efforts, particularly for its leasing space portfolio.
“WorkNook reflects our vision of creating spaces where today’s professionals can thrive. We’re excited to contribute to Cebu’s dynamic remote work and business scene,” said Joanna Soberano-Bergundthal, CLI senior vice president for marketing and leasing.
The venture addresses Cebu’s demand for flexible workspace.
CLI cited a Cisco study in 2022 which showed that “37 percent of Filipino workers feel traditional office setups limit their potential.”
“Our goal is to support professionals seeking alternatives to working from home in a modern, positive work environment,” Soberano-Bergundthal said.
Soberano-Bergundthal said WorkNook offers “a fresh way to work” with its variety of aesthetic amenities tailored to different professional needs.
“These include private offices for teams and groups, co-working spaces for individuals, and fully equipped meeting rooms for discussions or presentations. It also boasts high-speed internet, office-grade furniture, secure lockers, and a pantry with coffee,” the company said.
Soberano-Bergundthal said WorkNook spaces are available at competitive introductory rates that can run for half a day to daily, weekly, and monthly.
Known for its expertise in residential, office, and mixed-use developments, CLI has seen significant growth in its commercial leasing portfolio.
The company reported a 47 percent year-on-year increase in leasing revenues as of the first nine months of 2024, with 9,219-square meter (sq.m.) of new leasable space in its portfolio.
“WorkNook contributes to this expansion, along with an additional 32,196 sq.m. of leasable space in the pipeline,” said Soberano-Bergundthal.
Other WorkNook sites are also in the pipeline, CLI said without elaborating.
