Filinvest to initiate two projects in Phillipines by 2016

11 May 2015 (Last Updated May 11th, 2015 18:30)

Filipino property developer Filinvest Land (FLI) plans to launch a 20ha subdivision along Daang Hari in Las Pinas this year and a 1.2ha integrated mixed-use project in Cubao, Quezon City next year.

Filipino property developer Filinvest Land (FLI) plans to launch a 20ha subdivision along Daang Hari in Las Pinas this year and a 1.2ha integrated mixed-use project in Cubao, Quezon City next year.

The subdivision project in Daang Hari is targeted at capturing the high-end market with the properties to be priced at PHP45,000 ($1,005.43) per m² and have 4,000 houses at PHP2m ($2m) to PHP2.5m ($2.5m) each.

It is expected to bring PHP9bn ($201m) in revenues for the company, which is owned by Gotianum group.

"The subdivision project in Daang Hari is targeted at capturing the high-end market."

The 2ha project in Cubao, termed 'Activa', will be a mixed-used integrated initiative that will offer a four-storey commercial retail mall, two office towers for business process outsourcing sector, a residential condominium development along with a versatile office-residential tower.

Construction for the Cubao project is scheduled to start next year, and the company is currently conducting schematic planning.

At present, FLI intends to generate recurring revenues of PHP30bn ($670.2m) to PHP40bn ($893.7m) by the end of 2016.

The firm expects a revenue boost by the flow of incomes from additional recurring portfolio, with most being capped off by 2016.

FIL has a recurring income-generating project portfolio of around PHP30bn ($670.2m).