Filinvest Land pours in P1.5B investments

By: JGRS

The Filinvest Land Inc., one of the leader and biggest full range property developer in the Philippines, is bringing another pioneering residential development project in Davao City worth P 1.5 billion.

One Oasis Davao City, the newest project of the Filinvest Land, is the addition to the other projects of FilinvestLand in the city such as Le Jardin, Fuente de Villa Abrille, Villa Mercidita, Orange Grove, and Kembali Coast.

Tristan Las Marias, Filinvest vice-president for Visayas and Mindanao projects, said at a press briefing Wednesday at the Marco Polo Davao, that the name Oasis is derived from the word Oasis, which means a peaceful or tranquil area amidst a hectic and troubled place.

One Oasis Davao City is a cluster of medium rise residential building (MRB) development, or more commonly called as "walk-up condominium units."

"The site is located on a 2.3 hectares property in Ecowest Drive in Ecoland Subdivision, the site is not near SM City, it is just beside SM and its 700 meters steps away from SM," Las Marias said.

"It is very accessible through public transport, just a few minutes away from offices, schools, churches, and commercial establishments. It's also a fully secured community with guarded access gates. It also has first class amenities such as a clubhouse, gardens, children playgrounds, and swimming pool," he added.

One Oasis Davao City is made up of seven medium rise buildings, to be developed over a three to four years time frame.

In its first phase, four walk-up buildings will be built. Each building has five levels with a basement and a rooftop. Each level will have 24 condo units.

A total of 120 residential condominium units per building for a total of around 850 residential condominium units for the entire cluster will be developed.

Each one-bedroom unit costs P1.3 million, while the two-bedroom is pegged at P1.9 million to P2 million each.

Each building is expected to be completed in eight to twelve months, Las Marias said.

The project is a product of inquiries from overseas Filipino workers (OFWs), and other middle-income people who want to have walk-up condominiums in Davao City.

The Filinvest Land Inc. has already poured in P5 to P6 billion investments in Davao City for the last 10 years.

SOURCE: www.sunstar.com.ph
Thursday, December 06, 2007