RACONTEURPH

MyTown Auckland dormitory opens its doors to yuppies

MyTown, a co-living dormitory brand, has opened its newest building to date in Makati City.

Situated at Harvard Street nearby Kalayaan Avenue in Makati City, MyTown Auckland is the 14th building made by MyTown alongside Philippines Urban Living Solutions (PULS), the country's largest rental housing provider. The residential building comprises of 325 beds, and offers a number of amenities like an open air cinema, canteen, gym, and a yoga area offering an overlook of the Manila Golf Club. A laundromat and supermarket will be open soon.

With the newly-opened dormitory, MyTown now has a portfolio of over 3,300 beds by the yearend, a result of its unique market approach which is making a hit among corporate and millennials.

MyTown and its rental brand PULS were launched in 2012 in order to narrow the market gap in affordable urban housing. From taking surveys and finding out its results, MyTown developed the first demand-driven real estate concept in the country. The company aims to resolve the projected housing backlog of about 5.7 million units that makes young professionals being hard-pressed for options that are both functional and affordable for their complex lifestyles-yet-limited income.

“Before we even built the first MyTown building, we made it a point as a first mover to get into the mind of our target public by asking them what they wanted and needed in a housing solution. As a result, we can now offer the young professionals a co-living solution that is healthy for their work-life balance as well as their wallet,” said Mark Kooijman, PULS Chief Executive Officer.

From a survey of 1,200 respondents, MyTown learned that a huge amount of the millennials' income goes to transportation – specifically, costing them a sum of around three to nine full days per month on daily commute alone.

In response to the growing need, MyTown build over 14 dormitory buildings that began construction in 2017,with majority of them ready-for-occupancy since mid-2018. But more than just building bedspaces, MyTown also found out that the young look for more than just a bed.

“Young professionals don't simply need a place to sleep,” said Jelmer Ikink, PULS Group Director. “They work hard to life a lifestyle they enjoy, and a home away from home. From developing top of the line amenities to providing convenient retail options and engaging tenant activity program, MyTown is the young professional's partner when you thrive in the city. At MyTown, you won't just sleep, but also play, learn, meet new friends, and walk to work.”

That said, MyTown provides young professionals the after-work programs where they can work out, socialize, learn new skills and other activities, as part of the company's objective of helping yuppies achieve work-life balance.

Aside from that, MyTown dormitories enjoy an average occupancy rate of 94%, deriving results from its programs that not only has given benefits to the occupants, but from offices as well.

“We gave dozens of corporate partners who recognize the value of work-life balance in nurturing a productive workforce,” said Kooijman. “We've built corporate programs where our partners our accommodations as part of their employee benefit package, as trainee staff housing, or as part pf their business continuity planning. We provide corporate partners a unique solutions in engaging and retaining their diverse and highly-talented workforce.”

“MyTown continues to answer a demand for the growing number of urban professionals who cannot afford high-end housing, but still aspire for a fulfilling lifestyle. We don't see it as a trend, but a way of life that will become the norm in the future. We are looking forward to providing the country's emerging young and vibrant professionals with housing that encourages community and a healthy lifestyle through our continued growth in the city and beyond,” added Ikink.