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Gotianun group repositions Filinvest City as business-lifestyle enclave

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MANILA – The major urban hub of the Filinvest group in the south is set to take on a new name, reaffirming its commitment to make the sprawling property a world-class central business district and serve the demands of a growing commerce and population.

In a briefing on Wednesday, Josephine Gotianun-Yap, Filinvest Alabang Inc. president and chief executive officer, said the company on Thursday will re-launch "Filinvest Corporate City" as "Filinvest City," the new name of its 244-hectare development, at the new events place Filinvest Tent.

"We used to call Filinvest City as the premier CBD in the south. We are now dropping 'in the south' because we can compete with other CBDs," said Catherine Ilagan, Filinvest Alabang executive vice president.

Filinvest Alabang, which is 20-percent owned by listed Filinvest Land Inc, is the developer of Filinvest City.

The Filinvest group has invested close to P20 billion in Filinvest City. Yap said more developments across all real estate product segments will rise in the area, as it serves as an axis and gateway from urban Metro Manila to the Calabarzon growth regions.

“Ninety-five hectares is still developable land. We will put in a combination of offices, residences, hotels, and other major property elements. We will always incorporate green spaces there so it will bring green into the lives of those people staying in those blocks,” Yap said.

Yap said Filinvest Alabang is revisiting its masterplan for Filinvest City to incorporate new trends. The area would be developed to more than just a business hub as it offers a myriad of lifestyle options given the wide array of entertainment and retail establishments that will complement the existing residential projects and office buildings.

Rising in the property is the four-tower Entrata Urban Complex, which will house a high-end shopping center at the ground and second floors of its first tower. The Entrata Shopping Center will off more than 50 top retail outlets, specialty shops, services, wellness centers, international restaurants and a 4,000-square-meter entertainment facility.

The mall will complement the Festival Supermall, which is being expanded to add 57,0000 square meters of leasable space for retail and dining outlets. More than 700 retail outlets occupy 135,000 square meters of leasable floor area.

A total 110,000 square meters of floor area will also be added to the 20-hectare mall keeping it the largest lifestyle center in southern Metro Manila. River Park will house an amphitheater for live outdoor concerts, while the Water Garden will have a wedding and events pavilion. The arcade Festival Walk will be built to connect the mall to a transport node.

The five-star Crimson Hotel, which forms part of the Entrata complex, is set to begin commercial operations this month. The 345-room hotel will have a swimming pool, gym, spa, business center, six meeting rooms, a 564-square-meter grand ballroom, among others.

Far Eastern University is also preparing to build a campus within Filinvest City to add to the existing residential and office buildings, hotels and the world class Asian Hospital in the development.

By: Krista Angela M. Montealegre, InterAksyon.com
http://www.interaksyon.com/business/47490/gotianun-group-repositions-filinvest-city-as-business-lifestyle-enclave

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Filinvest Land rebrands, revitalizes satellite city development

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filinvest-city-alabangReal estate firm Filinvest Land Inc. unveiled Wednesday a major effort to rebrand its commercial-residential development in Muntinlupa City amid the ongoing boom in the country’s property sector.

In a briefing, officials of the Gotianun family-controlled company said the new commercial developments would rise in what was formerly known as Filinvest Corporate City, which will be renamed Filinvest City.

The property is a 244-hectare “satellite city” south of Metro Manila that has become home to major corporations, business process outsourcing firms and several shopping malls.

Company officials said the Crimson Hotel, a part of the four-tower Entrata Urban Complex beside the existing Festival Supermall, would open this month.

The five-star, 345-room hotel will have a swimming pool, gym, spa, business center, six meeting rooms, a 564-square-meter grand ballroom, five food-and-beverage outlets and concierge.

A high-end shopping center on the ground and second floors of Entrata’s first tower, which offers 400 small office/home office units, will open in the first quarter of 2013.

The Entrata Shopping Center will have more than 50 top retail outlets, specialty shops, services, wellness centers, international restaurants, and a 4,000-square-meter entertainment facility.

“The mall will complement the Festival Supermall, which is being expanded to add 57,000 sqm in leasable space for retail and dining outlets,” Filinvest said in a statement. “Currently, more than 700 retail outlets occupy 135,000 sqm of leasable floor area.”

The major urban center in southern Metro Manila is launching its new name, Filinvest City, with a new vibrant logo amid a bullish development blitz. Top officials of the 244-hectare satellite city’s developer, Filinvest Alabang Inc. (FAI), will lead the launching ceremony Thursday at the Filinvest Tent, the newest and biggest events venue south of Metro Manila.

“We take pride in what we have put in place so far and would like everyone to know about it in a big way,” said Catherine Ilagan, executive vice president of the property’s developer, Filinvest Alabang Inc.

A total of 110,000 sq. m. in floor area will also be added to the 20-hectare Festival Mall in a bid to retain it as the largest “lifestyle center” in southern Metro Manila.

“There will be more greens, outdoor promenades and amenities,” the company said in the statement. “The arcade Festival Walk will be built to connect the mall to the transport hub South Station.”

Plans are also under way to revitalize the high-end dining and community center experience at Westgate to reinforce it as the melting pot of locals from Filinvest City and other nearby villages like Ayala Alabang, Alabang Hills, officials explained.

By Daxim L. Lucas
http://business.inquirer.net/91832/filinvest-land-rebrands-revitalizes-satellite-city-development

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Selling Price of Lots at Filinvest City Reach All-Time High

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Lot prices at Filinvest City in Alabang, Muntinlupa City have soared in recent months with the completion of the Skyway extension from Sucat to Alabang in April 2011.

filinvest-cityA lot was recently sold for Php115,000 per square meter. This is significantly higher than the previous highest price achieved during the height of the property boom in 1997, right before the Asian Financial Crisis. Other lots have also sold in the range of Php75,000 to Php87,000 per square meter, depending on the location and floor area ratio (FAR) of the lot. This is greater than the prices in the range of Php53,200 to Php67,500 per square meter for 2011. By way of comparison, other Central Business Districts have not yet surpassed their previous peak prices achieved before the Asian Financial Crisis.

A total of 2.6 hectares have been sold to various buyers in 2012, including a lot to a major university.

Despite the jump in prices, Filinvest City lots are still considered very reasonable with accommodation values of around Php10,000 per square meter, compared to Php18,000 to Php20,000 per square meter in Makati and Bonifacio Global City, and Php15,000 per square meter in Ortigas. There is therefore additional room for prices in Filinvest City to go up. Accommodation value is calculated by dividing the selling price per square meter of land by the number of floors a developer can build or the FAR. It is the effective cost of land per square meter of buildable area that the real estate developer is paying for.

Filinvest City is a 244-hectare master-planned development of the Filinvest Alabang, Inc. (FAI), located about 17 kilometers south of Makati City. FAI has beneficial ownership of around 90 hectares of saleable lots within Filinvest City.

Filinvest City has become the main residential and business hub of Southern Metro Manila. Aside from the various residential and office buildings, it is home to three hospitals, including the world class Asian Hospital. There are currently four hotels/service apartments. Another hotel, Crimson, a Filinvest project, is scheduled to open before the end of the year. And recently, a Singapore-based service apartment developer signed up for a property for a sixth hospitality project. The City is also the car dealership hub of Southern Metro Manila, and home to at least eight brands.

Filinvest Land, Inc. (FLI) has a 20% stake in FAI. FLI’s wholly-owned projects within Filinvest City include the 200,000 square meter Festival Supermall which is currently being expanded by 50% to 300,000 square meters. FLI also owns the 10-hectare Northgate Cyberzone, a BPO campus with 12 operational office buildings that are fully leased out, with another four currently under construction.

These projects within Filinvest City, together with FLI’s expansion into Cebu, will increase the net leasable area of FLI’s leasing assets from 289,000 square meters as of the end of 2011 by 88% to 545,000 square meters by 2015.

FLI also has two ongoing high-rise residential projects in Filinvest City, namely, The Levels and Studio City. The Levels is a four-tower project, located on a 1.36 hectare lot in one of the highest points of Filinvest City. On the other hand, Studio City is a five-tower project on a 9,500 square meter lot located close to Northgate Cyberzone and is targeted to provide residential units for those who work in the BPO campus, as well as single or newly-married professionals.

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