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PROPERTY
developer Filinvest Land Inc. (FLI) will expand its
leasable office by 74 percent to 170,00 square meters
next year from its current 97,534 sqm.
In a
report to its stockholders, Filinvest said five new
buildings dedicated to business process outsourcing, or
BPO, and located in the 10-hectare Northgate Cyberzone
in Alabang, Muntinlupa, will contribute to expanding its
leasable office space. Filinvest has earmarked P2
billion for these projects.
“There
is still potential growth in leasable space especially
in Northgate as only 3 out of
10 hectares
have been developed,” the company said in a report
presented to stockholders during their yearly meeting.
At
present, FLI has BPO inventory of eight buildings with
an aggregate leasable area of 97,534 sqm., making it one
of the country’s largest office space providers for
outsourced business.
This
quarter, the company will turnover its 5132 office
building, which has a leasable area of 9,201 sqm. By the
fourth quarter, Filinvest will declare ihub 1, with a of
9,510 sqm, ready for occupancy. Next year, ihub 2, ihub
3 and ihub 4, which have a combined leasable space of
49,807 sqm, are up for completion.
While it
sees a lot of opportunities in the BPO industry,
Filinvest said its main focus remains on affordable
housing.
The bulk
of its P16.4-billion capital expenditure, programmed
from 2007 to 2009, will go to various housing projects
all over the country.
“The
plan is to continue to focus on core business of mass
market housing and expand market reach in selected
high-growth regional centers and through new product
lines,” Filinvest said in its report.
This
year, the company is embarking on 14 residential
projects catering to socialized and affordable,
middle-income and high-end markets. The projects are
expected to deliver sales revenue of P7.3 billion in the
next two years.
The
affordable and socialized segment will launch Sunrise
Place and Westwood Mansions in Cavite. The middle income
housing is set to launch
Auburn Place in Biñan, The Glens in San Pedro, Escala in
Cebu and
West Palms in Puerto Princesa. The Arborage, the newest
phase of the highly successful Brentville International,
will also be launched in the second quarter of 2007.
FLI is
also broadening its market by launching new products in
major urban areas. It will launch this year the Grand
Cenia, a condotel in a prime location in Cebu. This
18-story building will have three floors for commercial
space and outsourced offices.
Meanwhile, One Oasis is a complex of nine 5-story medium
rise buildings located in Pasig City and close to malls
and schools.
Kembali Coast
on Samal Island, Davao, is a beachfront residential
resort development. This 50-hectare Balinese-inspired,
island getaway offers low-density exclusivity and comes
with a 1.8-kilometer beachline that offers unobstructed
views of the sea.
Filinvest, controlled by the Gotianun family, reported a
net income of P252.26 million first quarter, up 64
percent from last year’s P 154.0 million.
Revenues
increased 140 percent to P1.024 billion from P426.7
million a year earlier on higher prices of real estate
and major leaps in rental income. |
