Posted on October 07, 2013 10:36:48 PM
[ BusinessWorld Online ]
GOTIANUN-LED Filinvest Alabang, Inc.
hopes to book P6 billion in revenues from a mid-rise residential project under
a newly established luxury brand, officials said yesterday.
Josephine Gotianun-Yap, the firm’s
president and chief executive officer, said Filinvest Alabang will spend
“billions” for Botanika Nature Residences, a 1.55-hectare development within
Filinvest City in Alabang, Muntinlupa City.
The property will have three mid-rise
towers with 370 units.
“The total sales value of the three
towers is around P6 billion,” Ms. Gotianun-Yap said in a briefing in Filinvest
City yesterday.
Construction of the first tower, which
will have 101 units, will start in June next year while turnover will be on
2017. Price for the property was pegged at P139,000 per square meter (sq.m.), with
a standard 125-sq.m. unit costing around P18.2 million, according to Daphne O.
Sanchez, the company’s assistant vice-president.
The two other towers are still in the
planning stage, Ms. Sanchez said on the sidelines of the briefing.
Botanika Nature Residences will be the
maiden project under a newly formed brand called the “Exclusive Collection”
catering to the “very high-end market.”
The project puts Filinvest Group,
which has long been known as a homebuilder for the middle-income market, in
competition for the high-end market with Ayala Land, Inc.; Century Properties
Group, Inc.; and Megaworld Corp.
“We feel that, today, it’s time for us
to launch a new brand for the top-end of the market,” Ms. Gotianun-Yap said,
citing the firm’s 50 years of experience in property development.
Ms. Sanchez said there are other
high-end projects in the pipeline for the “Exclusive Collection.” “There are
projects that are in the planning stage,” she said.
Filinvest Alabang is the developer of
Filinvest City, a 244-hectare master-planned development adjacent to South
Luzon Expressway in Alabang. The company is a unit of listed Filinvest Land,
Inc. -- C. H. C. Venzon
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