On the back of the country’s strong economic growth and continued demand for its core business of mass market housing, Filinvest Land Inc. (PSE: FLI) is targeting to launch around PhP13 billion worth of projects in 2011, from 17 new projects and 24 additional phases of existing projects. This is worth 25% more than the estimated value of projects launched in 2010.
Targeted launches for 2011 include four new socialized housing projects, six new affordable housing projects and two new mid-rise building (MRB) projects. The projects targeted for launch this year are equivalent to over 14,000 units, almost double the close to 7,300 units launched in 2010.
Sales take-up for 2010 reached PhP10 billion, 42% more than 2009’s PhP7 billion. The bulk was from the company’s core business of mass housing (socialized housing, affordable housing and middle-income housing), with midrise buildings (or MRBs, which fall under middle-income housing) contributing significantly to the growth.
FLI currently has nine MRB projects that have been announced or are under construction. All of FLI’s MRBs are under the “Oasis” series, with One Oasis Ortigas, Bali Oasis Marcos Highway, Maui Oasis Sta. Mesa, Sorrento Oasis Pasig and Capri Oasis Pasig in Metro Manila, and three in Metro Cebu (One Oasis Cebu, and Amalfi Oasis and San Remo Oasis within Citta de Mare in the South Road Properties), as well as One Oasis Davao. This year, it plans to start development on two additions to the “Oasis” series, namely Bali Oasis 2, and Belize Oasis within Metro Manila.
FLI is also planning new offerings within FLI’s existing township developments. New socialized and affordable housing projects are planned within Ciudad de Calamba in Laguna, as well as new residential clusters within Timberland Heights in San Mateo, Rizal and Havila in Antipolo and Taytay, Rizal.
FLI has also announced two residential projects within Filinvest Corporate City. Studio City is mainly targeted for those working in the BPOs within Northgate Cyberzone while The Levels is a middle-income project located at one of the highest points of Filinvest Corporate City.