Filinvest Land Inc. (FLI), the property development arm of the Gotianun family, plans to launch P25 billion worth of residential projects this year to sustain its growth momentum.
FLI president Tristan Las Marias said during the company’s annual stockholders meeting Friday afternoon the planned launches would mostly be mid-rise condominiums and affordable housing projects using the company’s existing land bank.
FLI plans to unveil its first mid-rise condo community project in Bacoor, Cavite and upgrade its township development in Trece Martires with commercial shops, transport terminals and affordable low-rise condo developments.
The property firm will also launch a new residential township in Iloilo that will feature supermarkets, daycare centers, public transport terminals, a huge park and football field that will be open to the public, said Las Marias.
“Iloilo central will also offer our first walkup project which will provide very affordable condo units which will be located in a complete residential setting that provides social spaces, outdoor sports and activity event areas, modern amenities at very affordable prices,” he said.
FLI said it would also explore residential opportunities in key cities in the Visayas and Mindanao to keep a balance geographical portfolio.
It will also open several mid-rise condo buildings in Dumaguete City, Zamboanga City and General Santos City.
FLI is scheduled to open high-rise condominium buildings in Cebu City and Davao City to match the growing market potentials in these highly urbanized cities and optimize land bank values. Jenniffer B. Austria
Las Marias said the group continued to see huge unserved demand in housing across the country and that it planned to launch affordable housing projects within the mass income bracket.
“We plan to continue to offer affordable housing projects in Rizal, Cavite, Laguna, Bataan, Zamboanga and other second-class cities in Visayas and Mindanao,” he said.
FLI reported net income attributable to parent company of P3.77 billion in 2023, up 30 percent from the previous year’s level.
Consolidated revenues and other income increased 13 percent year-on-year to P22.55 billion from P19.94 billion in 2022 on strong contribution from residential and leasing business segments.