VISAYAS-MINDANAO developer Cebu Landmasters Inc. (CLI) has opened its first WorkNook co-working space in Cebu City as part of a diversification rom residential, office, and mixed-use developments.
In a filing on Monday, the company said the Worknook in the Base Line Center in Cebu City is expected to be a hub for remote work and startups, offering freelancers, small businesses and students a workspace solution tailored to modern needs.
“WorkNook reflects our vision of creating spaces where today’s professionals can thrive,” Cebu Landmasters Senior Vice President Joanna Soberano-Bergundthal said. “We’re excited about Cebu’s dynamic remote work and business scene.”
The company cited a 2022 Cisco study that showed 37 percent of Filipino workers feel traditional office setups limit their potential, highlighting the need for co-working spaces.
“Our goal is to support professionals seeking alternatives to working from home in a modern, positive work environment,” it said.
WorkNook, which features private offices for teams and groups, co-working spaces for individuals, and fully equipped meeting rooms for discussions or presentations, will offer a “fresh way to work” with a modern, fresh aesthetic and a variety of amenities.
Cebu Landmasters has significantly grown its commercial leasing portfolio, reporting a 47-percent year-on-year increase in leasing revenues with 9,219 square meters (sqm) of new leasable space.
WorkNook will contribute to this via an additional 32,196 sqm of leasable space in the pipeline.
Cebu Landmasters shares fell by 2 centavos, or 0.76 percent to P2.62 each on Monday amid a 2.36-percent plunge for the benchmark Philippine Stock Exchange index.
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