Filinvest to put more projects in Mindanao
A TOTAL of P5 billion will be poured in by the Filinvest Land, Inc. (FLI) for the next three years in Mindanao. This, as the project developer is set to expand its Futura Homes economic housing, its Spatial Medium-Rise Building (MRB) portfolio with new projects in South Cotabato and Davao City.
"With the government's renewed focus towards Mindanao, we expect the demand for affordable housing to grow as new industries and investments arrive in Southern Mindanao (Region 11) and Soccsksargen (Region 12) areas. We would like FLI to be at the forefront to address this growing demand for affordable housing especially in Davao City and Koronadal City," Tristan Las Marias, senior vice-president and cluster head for Visayas and Mindanao, said.
The P5-billion investment is on top of the P4.7 billion-worth of ongoing land development including the One Oasis project in Cagayan de Oro granting Filinvest a 17 project-strong foothold spread over seven towns and cities here.
The company also has recently acquired 7.5-hectare site in Koronadal City, South Cotabato and a 17-hectare site in Catalunan Grande, Davao City for its economic housing projects catering to the middle market segment (can afford units worth P1.5 million and below). Both upcoming projects are targeted to be launched within the fourth quarter of 2016.
Filinvest has allocated a huge part of the development budget for two new MRB condo communities in Davao City - a two-hectare site in Matina area and another 1.7-hectare site near Davao City Hall.
Centro Spatial, the 1.7-hectare mid-rise condominium enclave set to rise in the center of Davao City, near City Hall will have five eight-storey mid-rise buildings and would boast of spacious units and complete amenities.
Spatial communities provide a secure and very accessible home in an environment with over 65 percentage open space and amenities and is perfect for the budget conscious start-up families.
The second MRB project that will rise on a two-hectare site in Matina, Davao City will likewise offer spacious units at affordable prices with large open spaces and activity areas. These new ventures now comprise Filinvest's total of 24 residential buildings in Mindanao. "We are excited with the very strong demand for affordable condominium units in Davao City.
As Davao City emerges as the new political capital of the country, we expect the influx of investments to continuously pour into Davao, particularly from our Overseas Filipino Workers looking for prime real estate investments, and contribute to the growing demand for affordable condos in Davao. We also believe that the City has the right fundamentals to attract and sustain business investments in spite of recent events," Las Marias said.
Filinvest Land, Inc. is one of the country's leading full-range property developers with almost 50 years in real estate and a diverse project portfolio spanning the archipelago.
In Mindanao, FLI offers a variety of living experiences from gated communities to mid-rise condominiums and resort-inspired residences. FLI is a subsidiary of the Gotianun-led Filinvest Development Corporation (FDC), which operates a 405-MW coal-fired power plant in Misamis Oriental.
FDC also maintains two sugar mills and refineries in Cotabato and Davao. (ASP)
Read more: http://www.sunstar.com.ph/davao/business/2016/09/21/filinvest-put-more-projects-mindanao-498934
