FLI’s mixed-use property in Makati bags SEA awardDate: March 13, 2018
PROPERTY developer Filinvest Land Inc. (FLI) said its mixed-use development in Makati has been recognized as the best investment property in Southeast Asia.
“The time for ‘100 West’ has come when property and investment experts are seeing its vision and potential,” Janette Cordero, FLI’s first vice president for Metro Manila mixed-use projects, said and referring to the firm’s mixed-use concept that integrates rental office spaces, residential and commercial units. Located along Sen. Gil Puyat Avenue and Washington Street, 100 West is poised to connect to the proposed rail and skyway that will link Southern Manila to northern part of Luzon.
“The best thing is, 100 West is currently in the preselling stage where buyers can still enjoy investment growth until the project nears its completion,” Cordero added. “Furthermore, we foresee an upsurge in the project’s investment value when new infrastructure and businesses are in place.”
Citing Global Property Guide, the company said owners of condominium units in this property can earn back a gross rental yield from 6 percent to 8 percent from their investment.
“Investing in real estate is still among the top choices for investors because aside from the perennially expanding population that ensures a steady demand from tenants, the increased tourist rate and online apps that offer short- or long-term lodging requirement has also become a driving force for the increase in rental demand,” FLI said.
The development has dedicated four floors for office spaces, providing options that range from 1,000-square-meter unit cuts to whole floors of 3,400 sqm allowing for great flexibility. These office spaces are equipped with fiber-optic facilities, suited for outsourcing, information-technology and knowledge-based companies.
FLI reported a 7-percent increase in its income from January to September 2017 to P3.7 billion, from the previous year’s P3.46 billion. Total revenues rose to P14.52 billion, also 7 percent higher than the P13.6 billion recorded in 2016.
The company attributes the revenue increase to a major expansion of its rental property portfolio and the continued strong demand for its retail and office spaces. Office rental revenues grew 31 percent to P3.15 billion, from P2.4 billion as the firm booked increased revenues from its new office and retail buildings.
The award was given by Dot Property Pte. Ltd., a digital media company headquartered in Singapore and operates as a subsidiary of Mitula Group Ltd.