Vol. XXI, No. 219 [ Business World Online ]
Monday, June 9, 2008 | MANILA, PHILIPPINES
FILINVEST ALABANG, Inc. (FAI), a unit of Filinvest Development Corp. (FDC), will spend P5.6 billion on a residential condominium project inside the Filinvest Corporate City as new roads connect the area to bustling Makati City.
FDC President Josephine G. Yap said FAI would launch its fourth residential condominium project called The Levels by the third quarter. "It will rise on a 14,000-square meter property and will have four towers that will be developed over five years," she said.
Ms. Yap said they expect more economic activity in the Filinvest Corporate City with three major infrastructure developments — the elevated Skyway along the South Expressway, reopening of the Filinvest exit and rehabilitation of the South Expressway from Alabang to Laguna. "These developments will significantly improve accessibility in the Filinvest Corporate City and reduce travel time," she said. She also said two major hotel locators would expand soon.
The Bellevue Manila is building a third tower within the hotel complex, while a 500-room hotel called the Acasia Grove Hotel is also being built. FAI recently launched the Entrata complex, a four-tower project that features a hotel, small-office-home-office (SOHO) units and two office towers. — Lovely Nica P. Lee
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