FLI to refocus on horizontal development

CEBU, Philippines - Gotianun-led property development firm Filinvest Land Inc., (FLI) announced its active re-entry to house and lot projects in Cebu, after building more condominium units in the metropolis.

This time, the public-listed company will focus on providing economic housing inventory to the growing mainstream market in Cebu, said FLI-Visayas project development officer for home and MRB (medium-rise buildings) Archie M. Igot.

"We are running out of inventories [for house and lot package]," said Igot.

To start-off its active come-back to horizontal housing development, FLI is set to break ground on the "Futura Homes" project, a 4.6 hectares economic housing offering, situated in barangay Marigondon, Lapu-Lapu City.

This P60 million subdivision project, which house and lot package price hovers within the P1.6 million to P1.7 million is the company's first of a series economic housing offering, as it is currently brewing subdivision project plans from northern to southern parts of Cebu.

The Futura Homes will build a total of house and lot units.

According to Igot, FLI is now talking to several property owners to pave the way for its plan to expand its horizons in the house and lot segment.

Ideal areas for subdivision expansion includes; Minglanilla, San Fernando, CarCar, Lilo-an, and Compostela.

A 25-hectare property in Mactan is also being eyed for a possible development of township project that will primarily feature housing units.

Although, the contemporary living afforded by condominium homes, is still on the hyper-demand level, Igot said FLI also has to catch up with the equally growing demand for horizontal housing products in Cebu.

Over the years, FLI has already built several subdivision projects in Metro Cebu, these are, the Corona de l Mar, Aldea del Sol, Mactan Tropics, and socialize housing Sunrise Place Mactan.

These projects built a little over 2,000 homes, in decent subdivision communities.

Recently, FLI had been active in building condominium projects in Cebu, especially in its 50-hectare integrated township development at the South Road Properties.

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