Bullish. Filinvest Land senior vice president for Visayas and Mindanao Tristan las Marias says that after winning the bid for a 19.2-hectare property at the South Road Properties, they are considering luxury residences, offices and commercial spaces to complement City di Mare. (Sun.Star Foto/Allan Cuizon).

FOLLOWING its recent acquisition of reclaimed land, Filinvest Land Inc. (FLI) plans to build more high-end projects in its masterplanned development in South Road Properties (SRP).

“We are bullish about the remaining areas to be developed…we are designing other luxury projects in the pipeline, at the same time studying other possible land uses, either for offices or commercial developments,” said Tristan Las Marias, senior vice president and Visayas and Mindanao cluster head of FLI.

The publicly-listed firm won the bid for a 19.2-hectare reclaimed land at SRP in addition to its existing 50-hectare City di Mare development, which is a joint venture with the Cebu City Government.

This new acquisition, according to Las Marias, will facilitate the new projects that would boost FLI’s real estate portfolio in Cebu.

“We are launching soon a luxury residential project in SRP,” said Las Marias at the sidelines of the firm’s “I Own My Dream” advocacy in Cebu. He, however, declined to disclose more information.

Likewise, he added that the newly acquired land will also be developed into a mixed-use development that will complement the ongoing City di Mare development, which now has the residential projects — the Amalfi and San Remo Oasis and the commercial/retail component Il Corso.

“Cebu has remained a prime area for investment for us. We are looking at bringing in more projects that will answer the different requirements of our buyers from-high-end to socialized housing,” said Las Marias.

In a disclosure, the new acquired property will be developed and owned by FLI together with its office development subsidiary, Cyberzone Properties, Inc., its central business district affiliate, Filinvest Alabang Inc. and other possible strategic partners.

“The property will be developed in accordance with the required minimum development plans of the Cebu City Government, as specified in the bidding guidelines, wherein 70 percent of the buildable area is intended for commercial and/or office use and the remaining 30 percent for residential use,” FLI said.

Last Saturday, FLI stepped up its advocacy with its new campaign “I Own My Dream” with its new ambassador Richard Yap, a Filipino actor.

The campaign, which was inspired by the success of company founders Andrew Gotianun Sr. and Mercedes Gotianun.

Source: SunStar