MANILA, Philippines - The Filinvest Group plans to venture into more high-end condominium projects following a “remarkable” uptake in its first premier project in Makati City.
Filinvest Development Corp. president Josephine Gotianun Yap said the company is carefully treading the niche market segment of the “ultra rich” after the positive reception of its P3.5-billion Beaufort premiere project in Bonifacio Global City.
“The market for this type of property is now ready. This novel venture answers the need of that type of home buyers who put premium on space and aesthetics as well as the conveniences that can be had living in a condominium,” Yap said.
Beaufort has 271 units consisting of the East and West Towers. With a one bedroom unit with parking space starting at P10 million, the selling price is at an average of P160, 000 per square meter.
The company said it expects to generate P7 billion in sales from Beaufort.
Filinvest executive vice president Catherine A. Ilagan said the East Tower is about 90 percent sold to date while the West Tower is around 70 to 80 percent sold.
Ilagan said the company is confident the project would be fully sold out in the next couple of months.
“The Beaufort only has three to four condo units to a floor. This gives them the satisfaction of making the most of their precious time,” Ilagan said.
Beaufort is the Filinvest Group’s first premier vertical masterplanned development with more being lined up in the pipeline, Ilagan said.
The Beaufort is designed by US architectural firm Arquitectonica, a leading architectural firm associated with prestigious landmarks like the International Finance Center in Seoul and Walt Disney’s All-Star Resorts in Florida, in collaboration with local architectural consultant R. Villarosa & Architects.
Filinvest said Beaufort’s security system is further strengthened by international security and engineering consulting firm Control Risks, a company known for handling major international airports.
The Filinvest Group, is one of the country’s leading real estate developers with over fifty years of experience in the property sector.