Traffic Is So Bad in Manila Workers Are Moving Into Dorms
- Ayala Land building dormitories housing 6,000 people in CBD
- Developer on track to get 50% of income from recurring sales
Cars stand in traffic during morning rush hour in the Makati district of Manila, the Philippines.
Photographer: Taylor Weidman/BloombergThis article is for subscribers only.
Ayala Land Inc., which built Manila’s financial district, is expanding into workers’ dormitories as developers target people fed up with battling some of the world’s worst traffic.
The company is investing 3 billion pesos ($58 million) building five dormitories on four sites in the Makati and Taguig business districts, comprising 1,500 units that can house as many as 6,000 people, President Bobby Dy said in an interview. The first dormitory will be ready next year, and has received interest from firms wanting to lease entire floors to keep workers close, he said.