By Cecilia Yap and Ian SaysonAyala 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 first dormitory will be ready next year, and has received interest from firms wanting to lease entire floors to keep workers close, he said. President Rodrigo Duterte’s administration is embarking on a $170 billion infrastructure program that will include adding 1,900 kilometers of railway in a bid to ease traffic gridlock. The dormitory builder, whose initial shareholders include Franklin Templeton Investments, is expected to have 12 dormitories operating in the next 12 months, up from three now. The demand for this kind of product will not disappear even with an improvement in infrastructure.”

Source: The Standard October 28, 2017 11:03 UTC