Filinvest allots over P10 billion for Mindanao expansion

Filinvest Land Inc. (FLI) is set to invest an additional P5 billion in the next three years in Mindanao, as it expands its Futura Homes economic housing under the Spatial medium-rise building (MRB) portfolio with new projects in South Cotabato and Davao City.

This is on top of the P4.7 billion worth of ongoing land development, including the One Oasis project in Cagayan de Oro, thus, granting Filinvest a 17 project-strong foothold spread over seven towns and cities.

Filinvest has recently acquired a 7.5-hectare site in Koronadal City, South Cotabato, and a 17-hectare site in Catalunan Grande, Davao City, for its economic-housing projects that cater to the market segment that can afford units worth P1.5 million and below. Both are targeted for launch within the fourth quarter of the year.

Filinvest has allocated a huge part of the development budget for two new MRB condo communities in Davao City—a 2-hectare site in Matina area and another 1.7-hectare site near Davao City Hall.

 “With the government’s renewed focus toward 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,” explained Tristan Las Marias, senior vice president and Cluster head for the Visayas and Mindanao.

Centro Spatial, the 1.7-hectare midrise condominium enclave set to rise in the center of Davao City near City Hall, will have five eight-story, midrise buildings, and would boast of spacious units and complete amenities. Spatial communities provide a secure and very accessible home in an environment where over 65 percent is provided for open space and amenities, and is perfect for the budget-conscious, start-up families.

The second MRB project that will rise on a 2-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 provided all over 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 commented.

FLI 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 midrise condominiums and resort-inspired residences.

FLI is a subsidiary of the Gotianun-led Filinvest Development Corp. (FDC), which operates a 405-megawatt coal-fired power plant in Misamis Oriental. FDC also maintains two sugar mills and refineries in Cotabato and Davao.

Filinvest will continue to be a catalyst of growth in the region, with more investments in the pipeline. With every endeavor, the company remains committed to enriching land and touching lives of Mindanaoans for generations to come.

Source: http://www.businessmirror.com.ph/filinvest-allots-over-p10-billion-for-mindanao-expansion/

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