SUMMARY
This is AI generated summarization, which may have errors. For context, always refer to the full article.
MANILA, Philippines – Gotianun-led Filinvest Land Inc. is targeting to launch P18 billion worth of projects in 2013.
On the sidelines of the Filinvest Land stockholders’ meeting on Friday, May 10, CEO Lourdes Josephine Yap said the company would launch 12 new projects this year, including 6 affordable housing projects under the Futura Homes Brands in Rizal, Cavite and Laguna.
Filinvest is spending P20 billion in capital expenditures, half of which will be directed toward residential project development costs. It will also spend P7 billion for office buildings and malls construction, and P3 billion for land banking activities.
Yap said the company also aims to increase its leasing portfolio to 550.2 square meters in 2015 from 332.6 square meters in 2013 by constructing office buildings for clients in the business process outsourcing industry.
The company is expecting the strong economy to boost residential homes sales by 15% to 20% this year.
Yap said they would be going into 3 new areas in the new two years.
“The 3 new areas we are going into are Iloilo, Cagayan and Tagaytay. It’ll be our first Cagayan project, Iloilo will be our first one as well. Those are strong regional centers that we have no presence in,” said Yap. – Rappler.com
Add a comment
How does this make you feel?
There are no comments yet. Add your comment to start the conversation.