Tuesday August 21, 2018

P4B project to rise in Lapu-Lapu City

THE Filinvest Group continues to expand its presence in Cebu as its subsidiary, Filinvest Alabang Inc (FAI), recently marked its first regional expansion in Cebu with the launching of the P4-billion Serulyan Seascapes in Lapu-Lapu City.

The development, which will have six towers, will nestle in a two-hectare property near Crimson Resort and Spa, which is also a Filinvest project. FAI Serulyan Seascapes project head Don-Don Mari S. Ubaldo said the development is part of the Filinvest Premiere home brand category and will offer to the market 581 high-end condominium units.

The first tower, which will have 65 units, will be positioned as service apartments instead of purely residential ones and is targeted to investors. Ubaldo said Tower 1 will be managed by FilArchipelago Hospitality Inc, the same group behind Crimson.

“I’m very optimistic that Cebuanos will embrace this project,” Ubaldo said at the sidelines of the project’s launching, noting the vibrant tourism in Lapu-Lapu City.

FAI’s biggest project is Filinvest City, a 244-hectare development in Alabang, Muntinlupa.

Lapu-Lapu Mayor Paz Radaza said Filinvest’s additional investment in the city is a welcome development. She said Serulyan Seascapes will boost the upbeat tourism industry of Mactan Island.

The city’s income, the mayor said, increased by 15 percent in 2014. Although she did not cite figures, she said the income is primarily driven by the residential and tourism projects in the city.

Construction of the first tower in Serulyan Seascapes will start in the second quarter of this year, according to Ubaldo. It is scheduled to be completed and become operational in 2018.

Aside from Serulyan Seascapes, Ubaldo said FAI will be launching within the year a Filinvest exclusive collection brand within City de Mare in South Road Properties.