SMDC launches serviced suites program to attract young renters

Property giant SM Development Corporation (SMDC) is launching a co-living and leasing program aimed at young professionals, overseas Filipinos, and digital nomads who want a more flexible — and hotel-like — way to rent in Metro Manila.

Called Good Stays Suites, the initiative transforms residential condominium units into serviced accommodations, allowing tenants to lease an SMDC unit on a monthly basis. The first site to offer this setup is Shore 3 Residences in the Mall of Asia Complex in Pasay.

Units come fully furnished and managed by a professional leasing team. Weekly housekeeping, high-speed Wi-Fi and access to condo amenities like pools and gyms are included. There’s also a community team that hosts events to help tenants meet each other — a detail the company believes will appeal to younger renters, especially those who are new to the city.

“We see a growing market that wants more flexibility. They want to rent for just a month or a few months, not necessarily commit to a long-term lease,” said Janine Llamzon, vice president of SMDC Leasing.

Good Stays Suites is part of SMDC Good Stays, the company’s recently launched leasing arm. This new suite program is SMDC’s bet on the rising popularity of midterm stays — longer than a hotel visit, but shorter than a traditional one-year lease — especially among remote workers and young professionals relocating to Metro Manila.

“The demographic we’re targeting is used to this kind of setup. They’ve seen co-living spaces abroad. They want something that feels like a hotel, but still has a sense of home,” Llamzon said.

The company hopes to roll out similar serviced suites across its other properties, including areas in Makati, Taguig and Parañaque.