Filinvest continues expansion in Cebu

ASIDE from its nine ongoing developments, developer Filinvest Land, Inc. (FLI) is eyeing to undertake more projects in Cebu.

“Real estate is still booming in Cebu and Filinvest is one of the very bullish developers taking advantage of this,” said Boler Binamira, FLI assistant vice president for sales in Visayas.

The developer is scouting for a 20 to 30-hectare property in northern Cebu for a horizontal residential project. This will be on top of Futura Homes Mactan, a 30-hectare residential development in Suba-Basbas, Lapu-Lapu City.

The company is also in talks for the acquisition of a lot adjacent to its One Oasis condominium complex in Mabolo.

Two additional condominium towers are being planned on this expansion site, bringing the total number of One Oasis towers to 12.

The company recently topped off the fifth tower. Binamira said construction of this building is two months ahead of schedule.

The entire project, estimated to cost P2 billion, is at least five months ahead of its timeline, said FLI first vice president and Visayas cluster head Allan Alfon.

The One Oasis project was launched in 2011. Construction is expected to continue for another five to six years. Upon completion of the 3.7-hectare development, it will have around 1,700 units.

To date, an estimated 600 two-bedroom units and studio units from the project’s first four towers have been turned over to its buyers.

Filinvest is also planning to develop a 19-hectare lot at the South Road Properties (SRP) into a mixed-use project.

Meanwhile, the company is also firming up plans to open a new development in Bohol within the first quarter of this year.

Residential projects are also ongoing in Dumaguete, Negros Oriental and Iloilo City.

FLI projects in Cebu include Corona del Mar, City di Mare, One Oasis and Aldea del Sol.