THE mixed-use joint venture project between Filinvest Land Inc. (FLI) and the Cebu City Government is getting a boost with the launch of the newest residential building of Sanremo Oasis, a mid-rise development inside City di Mare at the South Road Properties (SRP).
FLI unveiled the eighth building of Sanremo Oasis on Nov. 10, 2023, cashing in on the success of the seven residential buildings it had built in the past. This new project is expected to boost jobs and at the same time raise property values in the surrounding area, benefiting existing homeowners and property investors.
Building 8 will have a total of 203 units, composed of studio, one-bedroom and two-bedroom units, with prices ranging from P4.6 million to P8.4 million.
Sanremo Oasis is one of two Filinvest residential developments in City di Mare, a 58-hectare premier joint venture development with the Cebu City Government that offers a complete and modern live-work-play lifestyle.
“We look forward to welcoming more Cebuano families to Sanremo Oasis. We are optimistic about what the future holds for this community, as well as in City di Mare,” said Aven Valderrama, FLI first vice president and brand product head for medium-rise buildings.
Building 8 will also have new features. The ground level will have commercial spaces for cafes, dining options, and other useful services. Residents can also enjoy a roof deck garden for relaxation or social gatherings, Valderrama said.
As added security and convenience, each home unit will have smart home features, like digital locksets. Every unit is also connectivity-ready – ideal for remote work and learning.
“All these make Sanremo Oasis primed for property appreciation and ready to tap the area’s lucrative rental market,” she noted.
Moving forward, FLI said it will continue to bring growth to City di Mare and Cebu.
“We have no intention of slowing down. We will sustain this growth momentum in Cebu. We see bright prospects here, and it will continue to play a major part in the company’s growth directions,” Valderrama said.
Desilting
Recently, FLI fulfilled Mayor Michael Rama’s earlier directive and completed the desilting of a major drainage line at the SRP, in collaboration with the local government.
FLI also raised the sidewalk gutters near City di Mare and expanded these to benefit pedestrians. Additional concreting of entrance humps is also scheduled soon.
Planned civic spaces at City di Mare are also envisioned to serve residents, similar to parks, and may even serve as emergency evacuation areas if needed, said John Paul Escario, FLI assistant vice president and Cebu area general manager.
An area will be devoted to multi-use sports fields, while another area will be devoted to leisure spaces including but not limited to bazaars, cultural spaces, food stalls, and interim pop-up attractions, he added.
FLI closed the first nine months with P2.44 billion in net income attributable to equity holders, up 22 percent compared to the same period a year ago. Third quarter net income amounted to P1.05 billion, up 32 percent.
Residential revenues grew nine percent to P9.83 billion on accelerated construction progress and on the strong performance of FLI’s housing projects and medium-rise condominium projects.
For the period January to September 2023, FLI launched a total of P6.6 billion worth of residential projects in Rizal, Laguna, Pangasinan, Cebu, Davao, South Cotabato, and Zamboanga.
“Our strong and consistent residential performance was made possible by the continuing demand for value-for-money homes,” Tristan Las Marias, FLI president and chief executive officer told the local bourse on Nov. 14.