From its modest beginnings in July 1972, Federal Land Inc. has grown to become one of the country’s most reputable owners, developers and managers of quality residential and commercial properties.
But to get to where it is now, Federal Land, a member of the Metrobank Group, had to be focused on its vision of becoming the country’s leading developer, and at the same time be flexible enough to accommodate the fast changing developments in the market.
Competition in the booming property development sector is not easy, to say the least. It takes a lot of experience and keen awareness of the needs and wants of the market to survive and emerge victorious.
Federal Land president Alfred Ty says many valuable lessons have been learned from the real estate crisis of the ‘90s, and those who have survived the debacle are wiser in many ways.
“There are positive developments coming from the crisis. For one, developers have become more resourceful. They have developed new markets, such as overseas Filipinos especially in the United States and in Europe,” Ty pointed out in an interview with The STAR.
As Federal Land prepares to invest as much as P8 billion over a 12-month period until middle of next year to cover the initial cost of 10 new projects, Ty is confident that the Philippines is bound to experience a longer period of growth in the real estate sector, given the commitment of the private sector as well as the favorable macroeconomic forces operating in the country.
“Banks are going more and more into a consumer lending, including for homes, which is very good for the property sector,” Ty, who is also the corporate secretary of Metrobank, said.
The company
Known for its reputation of trust and dependability, Federal Land prides itself with nearly 35 years of experience in property development, and boasts of 26 landmark projects that now dot the Metro Manila skyline. The GT Tower International, Oriental Garden Makati, Metropolitan Park (that houses Le Pavillon and Bay Garden), Bayview International Tower, Valencia Hills, PSBank Tower, Skyland Plaza, and Ocean Tower – to name a few – all stand as testimonies to the company’s unrelenting commitment to building structures and communities that contribute to the overall progress of society.
Company officials emphasize that Federal Land is driven by its mission to provide excellent and timely service in creating world-class and affordable projects, and is guided by its vision of becoming a leading builder and developer of communities that provide an improved lifestyle to Filipinos.
Its beginnings
The company started in July 1972 with modest beginnings, addressing the office and residential needs of the Filipino-Chinese in downtown Manila.
From the Chinese hub of Binondo in Manila, then Federal Homes put up its first residential project, the Soler Tower. City dwellers’ strong support of the company’s first condominium, along with the growing need for urban housing in the progressing city of Manila, set off the building of Tytana Plaza, Manila’s tallest and biggest residential building in 1979.
As the city housing needs continued to grow, so responded Federal Homes. With its rich land bank, it developed once barren lands, located in strategic areas in the city, into beautiful homes that provide nurturing communities to residents.
Preparing for the future
After three decades of developing land, Federal Homes found itself charting wider territories as it ventured not just into vertical but horizontal developments as well. All braced up to overcome challenges and break personal records, the company changed its name in 2002 to Federal Land Inc. to mirror the company’s expansive growth which in the years to come would see increased organizational manpower and diversified array of portfolio projects.
Federal Land advanced its vision of becoming the leading developer when it started building self-sustained communities and township developments, in contrast to stand alone developments of its predecessor in the ’80s. Blazing the trail is Bay Garden in Metropolitan Park, a 40-hectare masterplanned community located between the country’s two major roads, Roxas Boulevard and EDSA. Bay Garden houses a cluster of prime residential towers boasting of a resort-inspired lifestyle amid the bustle of the city.
From the west, Federal Land went east side of Metro Manila to build the Marquinton Residences. Rising on a 17-hectare land, the project is a community of mediumrise, middle-class residential and office condominiums – the first in Marikina.
Adding to its flagship developments, the company embarked on commercial property development with the Blue Wave malls and Le Pavillon. The Blue Wave mall, which currently operates in the Bay Area and in Marikina, provides a wide variety of shops, restaurants, amusement centers, and cinemas.
All geared up
According to Ty, their foot is definitely on the accelerator. Federal Land still has a considerable land bank, which includes 10 hectares in Fort Bonifacio and 40 hectares in the Bay area.
With many developers now claiming to offer bigger and better townships and communities, Federal Land prides itself with the fact that it is able to offer projects which the residents and locators will be able to appreciate for many years to come.