Filinvest Land Inc. (FLI), the Gotianun Group’s listed property developer, has entered a joint venture with KMC Community Inc. (KMC), a global co-working space provider, to launch Our Space Solutions Inc. (OSSI).
In a disclosure to the Philippine Stock Exchange, FLI said this strategic partnership signifies a major step in catering to the growing demand for co-working spaces in the Philippines.
The first OSSI locations are situated in Axis Tower One, a prime office building within Filinvest City's Northgate Cyberzone.
The joint venture agreement (JVA) between FLI and KMC entails the establishment, operation, development, management, and maintenance of flexible workspaces. This includes offering private serviced office seats and co-working arrangements within commercial buildings across the Philippines.
"The rise of remote work has significantly reshaped the landscape of office spaces," said FLI President and CEO Tristan Las Marias.
He noted that, "Our partnership with KMC, a recognized leader in the co-working industry, allows us to address this growing demand with innovative and adaptable solutions under the Our Space Solutions Inc. brand, and further provides alternate rental solutions to improve occupancy of FLI and FREIT office spaces."
KMC brings its extensive experience in designing and managing vibrant co-working communities to the table.
"We are thrilled to be partnering with Filinvest Land Inc. to introduce OSSI. By combining KMC's global network and expertise with FLI's established presence in the Philippine market, we are confident that OSSI will become a leader in the co-working space industry here,” said WorkSpace Solutions CEO and Co-founder Michael McCullough.
OSSI is currently a locator in Filinvest REIT Corporation’s Axis tower One in Filinvest City, Alabang and is looking at opening more co-working spaces in Filinvest Land’s Makati, Quezon City, and Pasig City office properties.
"We are delighted to welcome OSSI as a valued locator at Axis Tower One. This innovative partnership perfectly complements the dynamic and forward-thinking atmosphere we strive to cultivate within our office buildings," said Filinvest REIT President and CEO Maricel Brion-Lirio.
The launch of OSSI signifies a significant development in providing flexible and collaborative workspaces for Filipino businesses and professionals, particularly with the increasing adoption of remote and hybrid work models.