Wednesday, May 28, 2008 Filinvest pours in P15B investments in Mindanao
TO MEET the demand of homebuyers looking for spaces near their places of work, the Filinvest Land continues to build homes and poured in a total of P15 billion in capital expenditures for the southern part of the country this year.
Tristan Las Marias disclosed this to Davao business reporters during a familiarization tour at Kembali Coast, a high-end resort residential project that Filinvest is building in Barangay San Isidro in the Island Garden City of Samal.
Filinvest vice chair Andrew T. Gutianon Jr. was present during the familiarization tour last Saturday.
Las Marias said the market now is in the Southern Mindanao area, particularly in places that are known as secured and safe havens.
He said Davao is one of their successful areas of business and they will continue to build more homes and plans to open at least for more developments of medium-rise condo projects with investments between P2 to P2.5 billion.
He said they are building affordable properties for the upper middle that would cost them a package of P1.5 to P2 million.
"In Davao City we also are looking at building townhouses and our talks with partners are ongoing," he said.
He said Davao's potential is very significant and it is growing rapidly as an urbanized area at par with Cebu and Manila.
Las Marias said the city has the most supportive local government unit among the areas in the Philippines.
