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