By Neil Jerome C. Morales (The
Philippine Star) | Updated November 29, 2013 - 12:00am
MANILA, Philippines - The Gotianun
family’s Filinvest Alabang Inc., the developer of Filinvest City in Muntinlupa,
is expanding its upscale residential offering in the 244-hectare mixed-used
community.
The property firm of Filinvest
Development Corp. (FDC) expects to generate more than P3 billion in sales from
its newest project, Bristol at Parkway Place.
Filinvest Alabang has launched the
40-story residential condominium Bristol at Parkway Place, the latest project
under the Filinvest Premiere brand.
“We’re running out inventory for these
kinds of projects,” said Filinvest Alabang executive-vice president Catherine
Ilagan, adding that Filinvest Premiere’s previous product, La Vie, was offered three years ago.
The Bristol at Parkway Place is
estimated to contribute P3 billion in fresh revenues for Filinvest Alabang,
Ilagan said.
The residential tower will consist of
345 units, most of which are 53-65 square meter (sqm) one-bedroom and 100-110
sqm two-bedroom units, with just a handful of 150 sqm three-bedroom units.
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“We will strategically increase price
as we go along, especially near its completion,” Ilagan said.
The upscale condominium is the second
of four towers in Parkway Place. Construction of the tower, which is located at
the corner of the so-called Millionaires’ Row, will start in the first quarter
next year.
“The market is really high-end but
smaller families like early and empty nesters or those with small kids,” Ilagan
said.
Filinvest Alabang also targets
investors particularly for the one- and two-bedroom units.
“Alabang is still where expatriates go
home to even when they work in Sta. Rosa [in Laguna] and farther south,” Ilagan
said.
The launch of Bristol at Parkway Place
completes the diverse offering of the property group in Filinvest City, Ilagan
said. Other brands are Filinvest (homes, condominiums, mid-rise buildings and townships),
Futura Homes (homes and townships) and Exclusive Collection.
Amenities in Bristol at Parkway Place
include the private circular driveway, a meditative yoga deck and sky lounge, a
library, a swimming pool, an outdoor tree courtyard, a private function hall, a
game and entertainment room, and party rooms.
FDC is the investment holding firm of
the Gotianun family and the parent firm of Filinvest Alabang.
In January to September, FDC’s
consolidated net income jumped 26 percent to P4.3 billion from P3.4 billion a
year ago while consolidated revenues picked up 24 percent to P25.6 billion from
P20.5 billion due to robust income from banking and property units East West
Bank and Filinvest Land.
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