SM Investments Corp. said companies’ need for staff housing boosted demand for co-living space.
“In response to the disruptions created by the pandemic and to ensure continued operations during community quarantine, conscientious company owners have put in place business continuity plans (BCPs) that include staff housing,” the company said.
This helped in reducing late or absent employees, coronavirus infection risk from commuting employees, employee churn, and address work-from-home (WFH) programs’ lower employee productivity, the company said.
Jogee Arellano, chief leasing officer in SM Investments’ co-living unit MyTown, said t given the direct costs to a company, “staff housing has an attractive return on investment for many.”
“The corporate clients who utilize our staff housing have seen attrition rates decline up to fourfold, which have material direct and indirect impacts on companies’ bottom lines, “ Arellano said.
He said MyTown had seen a significant increase in corporate partnerships for staff housing over the last 12 months.
“We have seen a dramatic increase in staff housing by more than 70 percent over the last year. The number of inquiries and sector diversity more than doubled over the same period,” he said.
Equipped with furnished rooms, extensive amenities, effective and comprehensive COVID-19 protocols, housekeeping, daily meal plans, and accessibility for Makati and Bonifacio Global City (BGC) corporate offices, MyTown has provided a one-stop-shop solution to its partners.
MyTown is the largest and most prominent co-living brand in the Philippines with 18 modern and luxurious dormitories located all within 5 minutes walking distance from BGC and Makati central business district.
