Elevator-less and mid-rise condos: FLI focusing on affordability

Filinvest Land Inc. (FLI), the Gotianun family’s property arm, seeks to launch P25-billion worth of residential projects this year to expand its footprint and further boost its presence in areas with existing developments.

FLI president and CEO Tristan Las Marias last week said their focus would be on mid-rise condominium buildings and residential townships within provinces spanning several regions to provide more affordable units and meet high demand.

“[These projects] aim to optimize our land bank and sustain our strong market presence in cities where we are already present,” Las Marias said during FLI’s annual stockholders meeting.

Among its projects that will break ground this year is the 11.4-hectare Iloilo Central, a new residential township project in the municipality of Leganes in Iloilo province.

According to Las Marias, Iloilo Central will be built with supermarkets, daycare centers, public transport terminals and a football field that will be open to the public.

It will likewise offer FLI’s first walk-up project that is expected to provide “very affordable” condo units.

Since walk-up projects do not have elevators, these are usually low-rise buildings with fewer floors and are generally more affordable.

FLI also plans to launch its first mid-rise condo community project in Bacoor, Cavite while putting up more low-rise developments in its The Wood Estates residential township in Trece Martires.

Las Marias said they also planned on opening “taller” condo buildings in Cebu City and Davao City to meet “growing market potentials.”“We have also kept a balanced geographical portfolio for our residential business by exploiting residential business opportunities in key cities in the Visayas and Mindanao,” he said.

FLI currently has over 250 ongoing developments in 50 key areas across the Philippines, according to its website.Parent company Filinvest Development Corp. earlier said they would earmark around P15 billion in capital expenditures for FLI this year. INQ