Developer strengthens foothold in Davao, builds up flexible workspace portfolio
Cementing its position as a first mover in the Davao region, property developer Damosa Land Inc. (DLI) announced together with International Workplace Group (IWG) the opening of flexible workspaces HQ Topaz and Regus Felcris Centrale in Davao City.
In a briefing on May 4, DLI and IWG announced the rebranding of Regus Damosa Topaz Tower, their first project in 2016, into HQ Topaz and the opening of Regus Felcris Centrale in the heart of Davao City.
The first-ever flexible work center in Mindanao is now the first HQ center in the country. The second location will take the Regus brand and give tenants access to a global network of workspaces.
“Essentially, what we’re really doing is preparing ourselves for the recovery,” DLI president Ricardo Lagdameo told guests who attended physically at Regus Felcris Centrale and those virtually, via Zoom. “We told ourselves that recovery will eventually happen.”
The event entitled, “Gear Up: Damosa Land, IWG Ready for Office Space Rebound,” aptly captured that anticipation. DLI and IWG will now capitalize on the hybrid future in Mindanao.
“The future of work is in the hybrid model,” noted Lars Wittig, country manager for the Philippines, Thailand, Vietnam, Cambodia and South Korea of IWG, the leading flexible workspace provider and owner of the Regus and HQ brands. “With the pandemic or not, the demand for flexible workspaces in the provinces has been growing tremendously.”
IWG has observed this trend as early as 2019 through a report that observed the Philippines and 18 other countries. The report noted that flexible workspaces would contribute over $254 billion to local economies by 2029 and comprise 30 percent of corporate real estate portfolios by 2030.
Wittig said the pandemic “moved the future much closer to us.” Workers don’t want to get stuck in traffic for hours; but also don’t like working at home enduring slow internet, data security issues and distractions.
People seek flexible workplaces near their homes, realizing they can deliver outcomes for their offices from anywhere.
IWG centers feature clean and sleek business lounges, meeting rooms and breakout areas. Members enjoy onsite assistance, secure and reliable internet, access to printers and scanners and free coffee. During the pandemic, the 3,000-plus global locations have followed health and safety protocols. All these have given IWG a definitive advantage versus its main competition—coffee shops.
With the 2016 project proving to be a big hit, DLI and IWG easily struck a partnership in January 2020 in which DLI would develop and operate eight IWG centers in Mindanao. In June 2021, Regus Diamond Tower will be the third of the eight IWG centers, and will be hosted by the 15-story Diamond Tower in Davao City.
Cagayan de Oro and General Santos are potential growth centers. Basing on inquiries, Lagdameo and Wittig noted that business process outsourcing companies and Japanese firms will propel occupancy. Small and medium-sized enterprises (SMEs) and startup companies are also expected to take up space.
“We are looking forward to how this office space industry will evolve and we are ready for it,” said Lagdameo. “We have two locations now. We still have our permanent workspace. Depending on what the companies need… we’ll have something for everyone, SMEs to large corporates.”
Wittig added, “While the community begins to recover, we can see that these flexible workspaces are going to help the local economy create new jobs, stimulate business growth in the region and improve productivity for enterprises.”