FLI allots P11 B for mid-rise bldgs

MANILA, Philippines - Gotianun-led real estate firm Filinvest Land Inc. (FLI) will launch P11 billion worth  of projects  this year to retain its leadership in the medium-rise building (MRB) segment.

This forms part of new projects worth  a total P20 billion slated for  the market this year, the company said in a disclosure.

FLI said it will launch six new MRB projects nationwide with an estimated sales value of P11 billion, increasing the firm’s total MRB projects to 18.

“These new MRB projects are part of the total P20 billion new projects slated for launch by FLI in 2013,” it added.

Specifically, the new offerings include Oasis brand projects in Tagaytay, Iloilo and Cagayan de Oro; Spatia MRB project in Pasig City; The Signature in Quezon City; and The Fortune Hill in San Juan.

“MRBs offer a much better living environment compared to high-rise buildings due to its low-density,” FLI said.

The five- to 12-story MRB projects require shorter time to be delivered to buyers, FLI said.

The property arm of the Gotianun family started its first MRB project in 2008, completing 41 buildings as of end-2012.

FLI, whose profits rose 18 percent to P1.97 billion in the nine months to September last year due to higher real estate sales, said it is currently putting up 11 MRBs.