Phinma on expansion mode for property hotel ventures

MANILA, Philippines — The Phinma conglomerate of the Del Rosario Group is on expansion mode for its properties and hospitality businesses this year.

Phinma Corp. president and COO Chito Salazar said that various developments are being undertaken by the group’s real estate and hospitality units to beef up their portfolio.

“Phinma Properties continues to develop urban communities through housing projects, mainly for the mid-income, first time homeowners,” Salazar said during the company’s annual stockholders’ meeting yesterday.

Salazar said the first phase of the P12-billion Saludad township, Phinma Properties’ foray into townships, would go live by the end of the year.

“Saludad will offer the Bacolod community not only housing, but the best of Phinma in education, in hospitality and construction materials,” he said.

The 21-hectare Saludad in Bacolod City was launched by Phinma Properties in October last year.

Meanwhile, Salazar said the group has also organized recently Phinma Community Housing Corp. to help address the country’s “huge unmet need for dignified, affordable shelter for underserved markets.”

He said that Phinma Community Housing would break ground on its first housing project in Davao by the fourth quarter this year.

The community housing projects are targeted for low-income wage earners, with house and lots priced at about P850,000.

“Looking into the future, we now turn our attention to affordable housing. This is a fundamental need, with an estimated backlog of over 6.5 million homes and we want to address this by doing in housing what we have accomplished in education in serving the low-income market,” Phinma chairman and CEO Ramon del Rosario said.

“Our new business unit, Phinma Community Housing, is our strategic vehicle for providing dignified, affordable homes for those that need it the most by building not just residential structures, but workers’ villages and communities,” he said.

Phinma Hospitality, meanwhile, is poised to maximizing growth demand for domestic leisure and business.

Salazar said the company is set to break ground on its second TRYP by Wyndham hotel in Saludad, as construction is also ongoing for another TRYP hotel in Samal.

He said Phinma Hospitality is also expanding Microtel Mall of Asia to serve even more local and foreign travelers.

“Our accomplishments and performance will fuel our ambitions toward growth and making a bigger difference in our society and country – that is making Phinma as a genuine force for good,” Salazar said.