MANILA, Philippines - The Gotianun family’s Filinvest Alabang Inc., the developer of Filinvest City in Muntinlupa, is expanding its upscale residential offering in the 244-hectare mixed-used community.
The property firm of Filinvest Development Corp. (FDC) expects to generate more than P3 billion in sales from its newest project, Bristol at Parkway Place.
Filinvest Alabang has launched the 40-story residential condominium Bristol at Parkway Place, the latest project under the Filinvest Premiere brand.
“We’re running out inventory for these kinds of projects,†said Filinvest Alabang executive-vice president Catherine Ilagan, adding that Filinvest Premiere’s previous product, La Vie, was offered three years ago.
The Bristol at Parkway Place is estimated to contribute P3 billion in fresh revenues for Filinvest Alabang, Ilagan said.
The residential tower will consist of 345 units, most of which are 53-65 square meter (sqm) one-bedroom and 100-110 sqm two-bedroom units, with just a handful of 150 sqm three-bedroom units.
“We will strategically increase price as we go along, especially near its completion,†Ilagan said.
The upscale condominium is the second of four towers in Parkway Place. Construction of the tower, which is located at the corner of the so-called Millionaires’ Row, will start in the first quarter next year.
“The market is really high-end but smaller families like early and empty nesters or those with small kids,†Ilagan said.
Filinvest Alabang also targets investors particularly for the one- and two-bedroom units.
“Alabang is still where expatriates go home to even when they work in Sta. Rosa [in Laguna] and farther south,†Ilagan said.
The launch of Bristol at Parkway Place completes the diverse offering of the property group in Filinvest City, Ilagan said. Other brands are Filinvest (homes, condominiums, mid-rise buildings and townships), Futura Homes (homes and townships) and Exclusive Collection.
Amenities in Bristol at Parkway Place include the private circular driveway, a meditative yoga deck and sky lounge, a library, a swimming pool, an outdoor tree courtyard, a private function hall, a game and entertainment room, and party rooms.
FDC is the investment holding firm of the Gotianun family and the parent firm of Filinvest Alabang.
In January to September, FDC’s consolidated net income jumped 26 percent to P4.3 billion from P3.4 billion a year ago while consolidated revenues picked up 24 percent to P25.6 billion from P20.5 billion due to robust income from banking and property units East West Bank and Filinvest Land.