Filinvest Land rolls out affordable mid-rise project

Artist’s perspective of One Spatial Pasig PHOTO FROM WWW.FILINVEST.COM.PH

MANILA, Philippines—Gotianun-led Filinvest Land Inc. is rolling out a new series of affordable mid-rise building (MRB) development under a new brand, “Spatial,” whose proposition is “more space, more value” for start-up families.

The maiden offering for this new affordable brand of residential MRBs is “One Spatial Pasig,” which will have seven buildings with six floors each. Each unit will have 32 square meters in footprint and sell at P1.8 million, with buyers having the option of combining up to three units.

This project, which offers units that are “larger and designed for functionality and efficiency,” has an estimated total sales value of P1.5 billion, FLI told the Philippine Stock Exchange on Thursday.

FLI said the units were an “ideal start-up home for families.” Located at a 1.8-hectare prime property along Amang Rodriguez street in Pasig City, the project is within walking distance to the Santolan Station of Light Railway Transit (LRT)-2.

The company said the “Spatial” MRBs were more affordable than its MRBs that are offered under the “Oasis” series. In general, the units are priced at around 20-25 percent less per square meter than the older series.

But just like its other MRB projects, FLI said its Spatial projects would feature lots of open spaces with the buildings’ footprint occupying only 35-40 percent of the total land area, “giving residents a truly spacious sanctuary amidst the urban sprawl.”

In addition, Spatial MRBs will continue to be built using the construction methodology employed by FLI’s MRB, which allows the units to be free of beams and columns so homeowners can enjoy “bigger and unobstructed livable space.” This development also relies on reusable forms that save around 3,000 pieces of plywood and 85,000 board feet of lumber per building.

For 2011 alone, FLI said it was able to save a total of 40,000 pieces of plywood and 1.1 million board feet of lumber. In addition, all the buildings are constructed with the aim of maximizing natural light and ventilation

FLI currently has 12 ongoing MRB projects, located at Metro Manila, Cebu and Davao City under the “Oasis” brand. It plans to launch MRB projects in other key urban areas such as Iloilo and Cagayan de Oro soon. In 2011, FLI completed the construction of 13 MRB buildings in its various projects.

The company believes that MRBs are the best housing alternative for the urban Filipino family. Its MRBs are “inner city” projects with several five- to 10-story buildings clustered around the project’s expansive central amenity area. They are located at highly accessible areas.