September 13, 2019 | 12:07 am [ bworldonline.com ]
FILINVEST Land, Inc. (FLI) has broken ground for the second phase of its Hampton Orchards project in Pampanga.
In a statement issued Thursday, the Gotianun-led property developer said the 18-hectare project will offer lots for sale ranging from 156 to 469 square meters (sq.m.) each. The project, located between the cities of Angeles and San Fernando, is a joint venture with film producer and director Ben Yalung.
FLI is targeting families, overseas Filipino workers, and investors for the project.
Amenities in Hampton Orchards include an amphitheater, sundial, pocket parks, outdoor gym, and central orchard. This is in addition to the adult and kiddie pool, clubhouse, children’s playground, pool deck, multi-purpose court, gazebo, picnic huts, trellis, and mango orchard found in the first phase of the project.
“Hampton Orchards Phase 2 is currently in the pre-selling stage where buyers can still enjoy investment growth until the project nears its completion,” FLI Senior Vice-President and North Luzon Cluster Head Tristan Las Marias said in a statement.
“Furthermore, we foresee an upsurge in the project’s investment value as this project is ideally situated to take advantage of the opportunities abounding in the two highly urbanized centers of Angeles and San Fernando, especially that progress for the province of Pampanga, and Region 3 as whole, are fast gaining momentum and its economy is set to take flight.”
Hampton Orchards is part of the P30 billion worth of projects FLI committed to launch this year, almost double the P16 billion it unveiled in 2018. Its residential projects are under the brands Futura and Aspire, which cater to the affordable and middle-income markets.
Aside from the expansion of its residential business, FLI is also ramping up its recurring rental income business so that it would contribute 50% of the company’s total earnings in the future. The company targets to end 2023 with about 1.6 million sq.m. in gross leasable area.
Incorporated in 1989, FLI is the real estate arm of Filinvest Development Corp., which also has investments in banking, power, sugar, and the hospitality sector.
FLI’s net income attributable to the parent rose 15% to P3.1 billion in the first half of 2019, after gross revenues jumped 26% to P11.81 billion.
Shares in FLI dropped by a centavo or 0.60% to close at P1.65 each at the stock exchange on Thursday. — Arra B. Francia
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