FILINVEST Land Inc. has noted a decreasing inventory of house and lot units, prompting the company to launch more horizontal residential projects in the next years, an official said.
Archie Igot, FLI project development officer, said the company will be active in expanding its Futura Homes brand in the country.
“By next year, we will have housing projects (carrying the Futura brand) in Bacolod, Dumaguete, and Bohol,” said Igot, in an interview at the sidelines of the launching of Futura Homes in Lapu-Lapu City.
This is the first Futura Homes development, the economic housing brand, of FLI in Cebu, Igot said. Meanwhile, this is the sixth project of the Filinvest group in Lapu-Lapu City after Sunrise Place Mactan, a socialized housing development with 633 units.
The P60-million project is situated on a five-hectare property sprawling over Barangays Suba-Basbas and Marigondon, and will have 239 houses up for completion in the first quarter of 2017. Each house is priced from P1.5 million to P1.7 million.
Projects
“Our horizontal projects are almost sold out. We are running out of inventories to sell for housing...Because for condominiums, we already have sufficient inventory, especially with our condo projects in SRP,” Igot said.
FLI has a 50-hectare masterplanned community at the South Road Properties in Cebu City. Two condominiums are currently standing, the San Remo Oasis and the Amalfi Oasis. Igot said the company is currently in negotiations with a lot owner for a 25-hectare property across the Futura Homes Lapu-Lapu site.
Igot said FLI is in talks with more land acquisitions in areas like Minglanilla, San Fernando and Carcar for the south, and Liloan to Compostela for the north.
Housing backlog in Central Visayas alone, according to Igot, stands at 1.9 million.
After almost 50 years, Filinvest in its website said it has built more than 135,000 homes on over 2,350 hectares of land.