Filinvest Land Inc. officials break ground for their Futura Homes Mactan in Suba Basbas, Lapu-Lapu City.
FILINVEST Land, Inc. is entering the economic residential segment to balance its portfolio, which currently consists of mid- to high-end projects.
The developer recently held groundbreaking ceremonies for Futura Homes Mactan, an economic housing project that will rise in Suba-Basbas, Lapu-Lapu City.
Tristan Las Marias, Filinvest Land senior vice president for Visayas and Mindanao, said they will build more high-end or luxury residential units at the City di Mare in the South Road Properties as well as in Serulyan Seascapes Mactan.
But these will be balanced by horizontal and vertical projects in the socialized and economic segments, in line with the company’s “I Own My Dream” campaign.
“We believe that across the income segment we would like to provide them (clients) with opportunities to fulfill either their end-use dream of financially living or owning a home, or investments, or second homes,” he said.
He said the company is bullish about the socialized and economic housing segments.
“More and more, the segment that is always big in terms of possible potential market will be the affordable or economic income segment in the housing sector. I think that market segment will always have a big demand,” he added.
Futura Homes, which will have an initial investment of P60 million, will offer 239 single detached house-and-lot units on a 4.6-hectare property near the boundary with Marigondon.
It is targeted to be completed in late 2017, said Engr. Mark Anthony Bulusan, project manager of ASDEC Builders Corp., the general contractor. The houses are priced between P1.5 million and P1.8 million, depending on the lot size that starts at 88 square meters, said Filinvest project development officer Archie M. Igot.
Filinvest recently completed Sunrise Place Mactan, a socialized housing development in Barangay Agus with 633 units. The developer has built other horizontal subdivisions in Mactan, Aldea del Sol and Mactan Tropics, and in Talisay, Corona del Mar.
“We (will) continue to expand our horizontal portfolio,” said Allan Alfon, Filinvest vice president for strategic business development.
Filinvest is pursuing possible sites in Compostela, Liloan, Minglanilla, San Fernando and Carcar as well as in cities in Negros and Bohol.
Other Filinvest projects in Cebu are the high-end condominium developments Grand Cenia and Amalfi and the mid-range One Oasis Cebu and Sanremo Oasis.