Filinvest to integrate new property into City di Mare

Tristan Las Marias, Filinvest Land senior vice president and Visayas and Mindanao cluster head, talks about the company’s various projects in Cebu as actor Richard Yap, the face behind the I Own My Dream campaign of Filinvest, listens. (CDN PHOTO/CHRISTIAN MANINGO)

The latest acquisition of developer Filinvest Land, Inc. (FLI), a 19-hectare property at the South Road Properties (SRP), will become part of City di Mare, an official said.

Tristan Las Marias, FLI senior vice president and Visayas and Mindanao cluster head, said any development that will be introduced in the 19-hectare lot, located between its 50-hectare development and the 30-hectare SM Seaside Complex, will be included in the City di Mare master plan.

“We are still in the process of planning,” he said at the sidelines of the launching of Filinvest’s “I Own My Dream” campaign last Saturday.

Initial plans for the 19-hectare property is a mixed use development.

Filinvest won the auction for the property after submitting the highest bid of P6.758 billion.

Las Marias said Filinvest continues to be “excited” about the SRP projects and their sales uptake.

“I think that the market is big. We have a very good economy, there’s a high employment rate, (and) there are skilled workers. There are BPO (business process outsourcing) offices that provide jobs and of course earnings that make them (workers) capable of buying or investing into condominiums or houses,” he said.

“Cebu, for the next many years, will remain to be an attractive investment site for real estate,” he added.

There are eight existing Filinvest real estate projects in Cebu, including projects undertaken by other subsidiaries of its parent company.

These include San Remo Oasis and Amalfi in City di Mare; One Oasis in Mabolo; Corona del Mar in Talisay; Aldea del Sol in Mactan; Futura Homes in Lapu-Lapu; and Grand Cenia Residences.

City di Mare is a 50-hectare mixed use development that includes the 40-hectare component which is being undertaken jointly with the Cebu City government.

It consists of residential projects San Remo Oasis and Amalfi Residences. The 10-hectare strip by the sea is a commercial development called Il Corso, where three restaurants currently operate.