FLI to ‘revisit’ horizontal developmentsDate: January 16, 2016
A LOCAL official of publicly-listed Filinvest Land Inc. said they will return to developing horizontal housing projects in Cebu this year.
Boler Binamira, FLI assistant vice president for sales, said the company will be launching two horizontal developments in Cebu.
“We are revisiting our roots, (the development of) horizontal projects, and that is housing,” Binamira told reporters at the sidelines of the topping off ceremony of the fifth building of One Oasis condominium in Mabolo, Cebu City.
The official, however, did not mention the amount for these horizontal projects.
He said FLI is on the lookout for properties up to Liloan in the north of Cebu where they can build their second horizontal housing project.
The first, he said, will be in Mactan, a township. Late last year, FLI broke ground on Futura Homes, an economic housing project in Lapu-Lapu City.
In another development, FLI is scheduled to turn over 209 condo units in One Oasis in the first quarter of 2017. This will bring the total number of turned over units in the said development to almost 800.
In the next five years, FLI project development officer Archie Igot said they will construct five more buildings that will bring the total number of units in One Oasis to 1,700. One Oasis is the second condominium project that FLI launched in Cebu in 2011, following Grand Cenia, which was launched in 2007.
As for its development at the South Road Properties, FLI vice president for strategic business development Allan Alfon said FLI has already completed its temporary drainage line within its property in SRP to minimize flooding in the area.
Alfon is the head of the task force created by the Cebu City Government to address flooding in SRP.
“The proposal is already there. The next step is implementation,” said Alfon, noting that he is yet to meet with the city mayor and officials and the other developers in the area, which include the SM and Ayala groups.
It was announced in August last year that the developers will commission Manila-based DCCD Engineering Corp. to undertake the project.
However, Alfon said it has not yet been decided if the completion of the comprehensive drainage line will be shouldered by developers or the Cebu City Government. He also could not give an estimate for the cost of the project.
Source: Sun.Star Cebu