Filinvest set to unveil P1.5B posh condo project

FILINVEST Land Inc. (FLI) will proceed with the groundbreaking of its P1.5 billion One Oasis Davao condominium complex next week with Vice President Noli de Castro as the guest of honor.

During a media update held at FLI's Orange Grove Club House in Matina, Davao City on Wednesday, Filinvest branch manager Allan Barquilla said they will push through with the groundbreaking on May 9 two of the seven buildings within the complex, which will also have a condotel with amenities to include guarded access gates, clubhouse, gardens, parks, children playground, and swimming pool.

The complex is located in a 2.3-hectare property at Ecoland Drive beside SM City Davao. One Oasis is a cluster of medium rise residential building (MRB) commonly called as "Walk Up Condominium."

Each building will have five levels and each floor will have choices of two-bedroom unit, one-bedroom, and studio type units. It will have 120 residential condominium units per building or a total of 850 residential units for the seven buildings.

The One Oasis Davao is an Asian-Tropical-inspired community where it is located near offices, schools, churches, health clinics and commercial establishments accessible to public transport along Quimpo Boulevard.

FLI senior business development manager Geraline C. de Gorostiza, who oversees One Oasis Davao, said they had been very aggressive about such projects because of strong market acceptance where more people want to live in the center.

She said they got queries mostly from out-of-towns like the cities of Kidapawan, Koronadal, and General Santos who send their children to universities here.

"We are bullish about this based on the way we see the market," she said.

But she said real property development needs big investment and even if there is a big market, the project won't proceed if there are no resources. She said they are also looking at other areas to develop and their company is optimistic the venture will be profitable.

In fact, she said the other condominium project will be set up in Ma-a also in Davao City.

She added that they have already acquired a 120-hectare property in Tambler in General Santos City but they are still looking for an area of 10 to 15 hectares within the heart of the city for a mixed-use residential area.

Barquilla meanwhile said they currently have five projects already established in the Davao Region. The other four projects are the eight hectares Filinvest Homes at Visayan Village in Tagum City, Orange Grove in Matina, Le Jardin in Ma-a with 12 hectares, Fuente de Villa Abrille, 10 hectares at Tulip Drive, Matina, and the 50 hectares residential resort Kembali Coast in Kaputian District at the Island Garden City of Samal.

He also said their first project in Butuan City, the Filinvest Homes, will have its groundbreaking on May 16. It is a 12-hectare joint venture project with the Plazas, he said.

SOURCE: www.sunstar.com.ph
Friday, April 25, 2008