As one of the Philippines’ most successful real estate developers, Federal Land continues to come up with creative and innovative ways to set itself apart from other industry players. With more than 10 projects waiting to be launched this year alone, the company continues to prove its mettle in the real estate industry. We talked to Federal Land executive vice president and general manager Louie Icasiano on all the exciting developments that Federal Land – Metrobank Group’s real estate arm – has in store this 2008 as well as for the next three years.
“The company started in July 1972 when it aimed to meet the residential needs of the Filipino-Chinese community in Binondo. Back then the company was known as Federal Homes and its first slew of projects included Soler Tower and Tytana Plaza, Manila’s tallest and biggest residential building at that time,” says Icasiano when asked about the promising start of Federal Land in the real estate industry. He adds that after three decades of success in developing land, the company started building self-sustained communities – now outside the Binondo area, from Roxas Boulevard to Makati, even in Marikina. “The company has experienced steady growth in its 35 years in the industry. In fact, it also currently has one of the largest landholdings, particularly in Metro Manila. The GT Tower International, Oriental Garden Makati, Metropolitan Park, (that houses Le Pavillon and Bay Garden), Bayview International Tower, Valencia Hills, Skyland Plaza, and Ocean Tower – to name a few – all stand as testimonies to Federal Land’s unrelenting commitment to building structures and communities that contribute to the overall progress of society.”
Continuously Evolving
Setting its sights on bringing more quality projects to its customers, Federal Land has been consistent in coming up with products that prove to be tailor-fitted to its customers’ needs and demands. Take, for example, Federal Land’s venture into retail with the introduction of the popular Blue Wave commercial complex in Metropolitan Park – located in the Bay Area. This popular hangout in Manila actually has a Marikina spin-off thanks to Federal Land’s incredible foresight that Marikina will prove to be a great market for the company’s products. Another example would be the Marquinton Residences – the first-ever condominium project in Marikina City. “When Marquinton started by focusing on the middle market, though it took a while for us to convince the local residents about the new concept, the Marquinton units are now selling fast. Marikina locals were used to buying the usual house-and-lot products but now, thanks to this pioneering effort of Federal Land, they’re now keen on living in condominiums,” says Icasiano. He adds that aside from Marquinton being the first-ever condominium in Marikina, Federal Land is also proud of this project because it has garnered the company the prestigious Developer of the Year award from the Chamber of Real Estate Builders Association (CREBA).
Another Federal Land first
Considering that things are certainly looking up for the company, Icasiano shares one of the most exciting Federal Land projects to date, a hotel mixed with grade-A offices, retail, and high-end residential spaces that will be put up in the northern part of Fort Bonifacio in the City of Taguig. The project will be started within the first half of this year and is scheduled to be completed in five years. “For the hotel and office tower, the hotel will sit on top of the office space with separate lobbies for the entrances. It will be the first of its kind here, a 66-story tower with a world-class hotel at the top. Meanwhile, the residential tower will be above the high-end retail complex at the podium level,” shares Icasiano. He foresees that this project will definitely add prestige to the City of Taguig as the latest premier business destination in the country.
Reaching out to more customers
Of course, with its continuous expansion in the real estate business, Federal Land has started to tap more possible buyers for its products. The company has put up an office in the U.S. – California, as well as two offices in Italy – Rome and Milan, to be able to tap one of the local real estate industry’s biggest market, the moneyed Filipinos abroad. “Our goal here is to reach the overseas Filipino market – we’re targeting people who want to retire in the Philippines, which most of them would love to do. Most of them have bought from our Makati, Quezon City and Marikina projects,” shares Icasiano. Of course, not to be missed is the high potential of the “foreign market” – not just made up of Japanese, British, and American nationals anymore, Federal Land has also started selling to the local Korean market as well as the Singaporean market. The company has even recently partnered with Orix Corporation – a top real estate company in Japan – for the Grand Midori Makati on Legaspi Street. He says that while Federal Land can definitely hold its own when it comes to delivery and expertise in producing innovative, quality products, this recent joint venture has generated synergy for both companies. Icasiano adds, “It’s really all about what the Japanese can contribute in terms of technology and I admire the fact that they’re also very meticulous in terms of quality. I think that’s what Federal Land has gained from this venture.” The Grand Midori Makati was launched last December and the 35-story twin towers have generated the market’s keen interest.
Bigger and better for 2008
Icasiano is proud to share that 2007 has been a record-breaking year for Federal Land with the highest monthly sales, highest quarterly sales, and of course, the highest annual sales volume. However, with such robust growth in the past year, surpassing it will be quite a challenge for the company this 2008. He elaborates, “For 2008, we’ll be launching more than 10 projects, we’ve already launched four so far. The challenge here is to launch our projects on schedule and double our performance for 2008.” When asked if the recent recession in the U.S. has had any effect on the company’s overseas selling operations, Icasiano is proud to say that Federal Land had the foresight to really look into the high value and quality of its accounts, resulting in Federal Land not being affected by it at all.
Not just a home, but also an investment
But what exactly sets Federal Land projects apart from the other real estate industry players? Icasiano says that aside from always delivering on time and even ahead of schedule, each and every Federal Land project is ensured to be of topnotch quality, making it a sound investment. “When you buy a property from us, we make sure that we continue to add value to it, and when I say that we add value, the property is continuously managed and maintained even after it’s completed, delivered, and occupied. Aside from buying a home, you also get a good investment,” explains Icasiano.
It’s also a big help that Federal Land is able to come up with payment schemes that are easy on the pocket, so that more people will be able to afford their own piece of quality Federal Land communities.
As for the secret behind Federal Land’s success, Icasiano laughs and says that there really is no big secret, “We only make sure that the products are delivered as promised while maintaining high standards of quality.” However, what he’s really most proud about Federal Land is its people, he shares, “You can see people who have spent 10, 15 or 25 years in this company, their competence and attitude are really great, and the owners are not just very supportive of each project that we venture into but they are willing to go into details whenever necessary. This kind of management style, I believe, has rubbed off on all the employees.” This clearly makes everyone in Federal Land very much committed to upholding the company’s vision of becoming the leading developer of communities that provides an improved lifestyle for Filipinos today and tomorrow.
