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Filinvest Land readies Cebu ground breaking

[ ] May 03, 2010

Filinvest Land, Inc., (Filinvest Land) is confident 2010 will be better than the previous year as company performance point to better prospects for the year.
The first three month sales reservation was already up 26 percent, higher than the company’s target of 15-20 percent, and the company is also embarking on a P6.8 billion capital expenditure this year, double that of the capex allocated last year.
This will raise the company’s unit inventory which is hoped to be taken up eagerly by the target market.
Filinvest Land president James L. Yap expressed confidence in the company’s portfolio, majority of which is geared towards the mass market, as economies all over the world move towards recovery.
About 50 percent of Filinvest Land’s sales are generated from the take up of overseas Filipino workers. This year, the company will launch 13 new projects and 23 additional phases with an estimated sales amounting to P8.6 billion.
The company plans to launch four new socialized housing projects in Cavite, Batangas, and Bulacan. New mid-rise projects like its Oasis brand, will also be expanded.
Filinvest Land is also starting the groundwork for its first residential project Citta di Mare, in the 50.6 hectare joint venture project of the company with the city government of Cebu.
In 2008, the company agreed with the city of Cebu to develop the reclaimed area, dedicating 40 hectares for residential purposes while the remaining would be for a mixed use development.

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