GOTIANUN-LED Filinvest Land Inc. (FLI) has jumped on the shared-space condominium bandwagon as it launched the fifth tower of its own brand in its flagship development in Alabang, Muntinlupa.

The company said it broke ground for the fifth tower of its development called Studio City, the last of the building in the complex. The company added the project is for living spaces that target young professionals, or yuppies, and a ready-rental market in the Filinvest City.

“We are proud of this development because we know that we have created a condo community that yuppies would be proud to call their own, as well as a lucrative choice for property investors because of the booming rental market from the large BPO work force in Northgate Cyberzone,” FLI Senior Vice President Francis Ceballos said in a statement.

The fifth tower follows the previous ones in Studio City, the company said. Tower 5 has 450 residential units and also has semifurnished units that include a bunk bed, wardrobe closet, working desk and entertainment rack.

Buyers can choose between 16-square-meter to 21-sq-m units with prices ranging from P2.1 million to P2.3 million.

Studio City’s shared amenities, such as the game room, gym, function rooms, gazebo, jogging path and swimming pool are purposely designed to suit the active lifestyle of its occupants.

“Soon, a basketball court in Tower 5 will be added to these amenities to complete the residents’ living and leisure experience,” the company said.

“Studio City is in a prime spot. It is near major educational, medical and commercial institutions. Professionals can reach their work destinations in Northgate Cyberzone, a premier IT park, Madrigal Business Park and Makati Central Business District in no time. It is really an ideal residence where you can experience the live-work-play lifestyle,” it said.

Major property developers, such as the SM Group and Ayala Land Inc., and even mass-housing firm 8990 Holdings Inc., are all rushing to build dormitory-type condominiums that it will build within or near the central business districts. These developers hope to mainly to tap those young professionals working in the area but do not want to go to their primary home during weekdays to save on travel time.

Units of the dorm-type developments are usually smaller cuts, but with simple furnishings, and each room can be used by about four occupants.

Related news: Business Mirror