ALI targets young professionals with second CityFlats property in Cebu

LISTED property developer Ayala Land, Inc. (ALI) has opened its second CityFlats co-living development in Cebu, aiming to capture demand from young professionals for affordable housing near major business hubs.

“Our goal is to make our estates more livable by providing practical, well-located homes for the city’s workforce. Young professionals shouldn’t have to sacrifice time, mobility, and community just to live in the city,” ALI Deputy Head of VisMin Estates Jay S. Teodoro, Jr. said in a statement on Monday.

Co-living developments have gained traction nationwide, particularly among millennials and Generation Z workers seeking curated living spaces with flexible lease terms.

The new CityFlats property has 392 rooms, each equipped with a workstation, bed, storage space, air-conditioning, a mini-kitchen, and an in-room toilet and bath.

About 80% of the development is allocated to long-stay co-living units, while the remaining rooms are intended for short-term guests such as business travelers, tourists, and employees on temporary assignments.

The property also features persons with disability-friendly units, retail spaces housing a convenience store and laundromat, and shared amenities, including a social hall designed for wellness activities and community events.

Daily rates start at P1,800 per night for short-term stays, while monthly co-living rates begin at P6,100, targeting employees, young professionals, students, and digital freelancers.

The development is located along Leyte Loop within Cebu Business Park, ALI’s 50-hectare information technology economic zone registered with the Philippine Economic Zone Authority.

“As more professionals seek to reduce commute times and manage living costs, co-living models such as The CityFlats are expected to play a growing role in urban housing,” ALI said.

ALI also operates CityFlats co-living properties in Cebu IT Park, Makati City, and Bonifacio Global City.

For the nine-month period, ALI posted a 0.9% year-on-year increase in attributable net income to P21.4 billion.

ALI shares rose by 3.92% or 85 centavos to close at P22.55 apiece on Monday. — Beatriz Marie D. Cruz