Developer updates plan of SRP township project

CEBU, Philippines – Publicly-listed Filinvest Land Inc., is enhancing its masterplan for the 50-hectare integrated township development at the South Road Properties.

In a press conference yesterday FLI president and chief executive officer Josephine Gotianun-Yap said that the company has to enhance its original masterplan of the project to keep up with the new urban trend.

Yesterday, the company officially launched the re-naming of the project, from "Citta di Mare" to "City di Mare" to provide easier brand recall for the next lifestyle capital/destination of Cebu.

According to Gotianun-Yap the enhancement of the master-plan is still on track of the allocated P25 billion capital expenditure (capex), that will build a total of 14 thousand to 15 thousand residential condominiums, a retail facility called Il Corso.

The project will allocate 15 percent of the total development of business process outsourcing buildings.

As a joint venture with the Cebu City government, it aims to provide a complete, modern, and urban township that still values the freedom of space with 60 percent of the entire area dedicated to greens and community gathering places.

The improvement of the project's plan will conform to the modern urban trend, that will also reflect the live, work and play environment within the development.

Its commercial and retail component called "Il Corso" will open some of its food concepts by first quarter of next year.

FLI, one of the biggest names in the real estate in the country, started its real estate presence in Cebu in 1960s. In recent years, it has built 40 buildings, over a thousand housing units, 2,700 condominium units and 677 hotel rooms.