FLI eyes more economic housing projects
(From left) FLI area sales head and assistant vice president Boler Binamira, Futura Homes sales team head Jeanelley Villaester Cabahug, Bulusan Contractor’s James Bulusan, and project development head Archie Igot lead the ceremonial concrete pouring for Futura Homes Mactan. (CDN PHOTO/VANESSA CLAIRE LUCERO)
Developer Filinvest Land, Inc. (FLI) will soon launch three to six economic housing developments under the brand Futura Homes in the Visayas.
FLI project development manager Archie Igot said this is the company’s contribution to efforts to address the estimated 1.9-million economic housing backlog in Central Visayas.
The first Futura Homes development is in Mactan, with an estimated project cost of P60 million and a land area of 4.6 hectares.
The brand will be introduced in northern and southern Cebu by the second quarter of this year, Igot said.
A Futura Homes development will be launched in Bacolod City in Negros before the end of the first quarter. Three other locations – Dumaguete City, Iloilo City in Western Visayas and Bohol – have also been identified. Negotiations for the acquisition of properties in these areas are being finalized, Igot said.
“We really wanted to tap the 1.9 million backlog spread around the Visayas, as identified by HLURB (Housing and Land Use Regulatory Board),” Igot said.
The company held a concrete pouring ceremony for the first Futura Homes development, located in Suba-basbas, Lapu-Lapu city, last January 22.
Igot said this not only marked the company’s foray into the economic housing sector, but also signaled the start of construction for the first batch of housing units.
95 one-story houses
Construction of 95, one-story houses will be done in tandem with land development for phase two.
All 95 units have been sold out and will be turned over by September this year.
Land development for phase 1, which started in November last year, is at least two months ahead of its schedule.
The minimum lot cut in the project is 88 square meters. Each one-story unit has a gross floor area of 32 square meters, and is expandable both horizontally and vertically at the buyer’s discretion.
“This is ideal for start up families in Mactan, or those working in MEZ (Mactan Economic Zone),” Igot said.
Alongside the construction of phase one is the set up of drainage and water lines, as well as a perimeter fence.These are nearly completed.
An additional 105 units will be constructed in phase two of the development. It will begin construction by March 2016 and will be completed by December.
AMENITIES
An estimated 20 percent of the units have been sold. The township will have amenities similar to those found in other FLI developments.
Among these are a gym, swimming pool and clubhouse, which will be completed in August or September. Igot said majority of its buyers are end users, including workers in Mactan and overseas Filipino workers.
“Around 99 percent of our buyers will really live here, and not just rent it out,” he said.
Boler Binamira, area sales head and assistant vice president for Visayas, said the company has readied a three-hectare property to serve as expansion area of Futura Homes Mactan. An additional 100 housing units could be built in the area.
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