OFWs are Filinvest's biggest market: exec

By :Joy Romares-Sevilla

OVERSEAS Filipino workers (OFWs) were identified to be the biggest market of one of the full-range land developers in the country.

The vice-president of Filinvest Land Inc., Tristan Las Marias, in a press briefing at the Marco Polo Davao last week, said 40 percent of the company's sales come from the OFWs.

Las Marias said the One Oasis Davao City, the newest project of Filinvest Land, is planning to tap this market because the project is very affordable for the OFWs.

"We also expect that 20 to 30 percent of our sales will be coming from buyers outside Davao City," he said.

The Filinvest Land Inc. said the One Oasis Davao, another pioneering residential development project in the city, is worth P1.5 billion.

It is in addition to the other projects of Filinvest Land in the city such as Le Jardin, Fuente de Villa Abrille, Villa Mercidita, Orange Grove, and Kembali Coast.

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

Las Marias claimed the project is a product of inquiries from OFWs and other middle-income people who want to have walk-up condominiums in Davao City.

"The site is located on a 2.3 hectares property in Ecowest Drive in Ecoland Subdivision, the site is 700 steps away from SM," Las Marias said.

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

"The first phase of development will be the four walk-up buildings, each building having five levels with basement and rooftop. Each level will have 24 condo units," Las Marias said.

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

"We are trying to secure the permits of the project and as long as we will have the license to sell, we will sell the property, we expect that each building will be established within eight to twelve months," Las Marias said.

SOURCE: www.sunstar.com.ph
Tuesday, December 11, 2007