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Property firm readies projects for launch

Posted on September 06, 2012 10:11:04 PM [ BusinessWorld Online ]

FILINVEST LAND, Inc. is set to launch a new line of mid-rise building (MRB) projects starting with a development along Pasig City, it announced on Thursday. 

In a disclosure to the local bourse, the property firm said that One Spatial Pasig is first of a series of MRB projects to be launched under the “Spatial” product name.

“Located on a 1.8-hectare prime property along Amang Rodriguez Street in Pasig City, it is within walking distance from the Santolan Station of LRT-2 (Light Rail Transit 2). The project has an estimated total sales value of P1.5 billion,” said Filinvest Land in the statement.

One Spatial Pasig will be composed of seven buildings with six floors each, said the firm. Each unit up for sale spans 32 square meters, and buyers will also be given the option to combine up to three units.

Filinvest Land said that the project has an estimated total sales value of P1.5 billion, with each of the units set to be sold at about P1.8 million each.

“Spatial projects will feature lots of open spaces, with the buildings’ footprint occupying only 35-40% of the total land area,” added the property developer.

Projects under the new line will also be built free of beams and columns to ensure that potential homeowners will be able to get the most out of the units’ space. Maximizing natural light and ventilation will also be a key factor in the construction of the buildings.

“It also relies on reusable forms which save around 3,000 pieces of plywood and 85,000 board feet of lumber per building,” said Filinvest Land, adding that it was able to save a total of 40,000 pieces of plywood and 1.1 million board feet of lumber through this scheme last year.

The Gotianun-led firm also noted that the per square meter rate of units in the Spatial series are priced around 20% to 25% less than those offered by its other MRB project line marketed under the brand Oasis. Filinvest Land currently has 12 MRB projects located in various cities in Metro Manila, Cebu and Davao City.

The firm’s shares ended yesterday’s trades unchanged at P1.30 apiece. -- Bettina Faye V. Roc   
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