FNG bullish on real estate despite global risks
Federal Land NRE Global Inc. (FNG) remains confident in the resilience of the Philippine real estate sector, even as global uncertainties continue to cloud the broader economic outlook.
In an interview, FNG President Thomas Mirasol said that the company continues to see sustained demand for its projects. This supports an aggressive development pipeline anchored on its flagship Riverpark community in Cavite.
“We’re looking at things very carefully as any prudent company should,” Mirasol said.
He noted that the firm closely tracks buyer interest, such as letters of intent and expressions of interest before launching new projects.
Despite heightened geopolitical risks and market volatility, Mirasol said that there has been no slowdown in demand so far.
“We’ve not seen any drop-off in our sales velocity ever since February. March was good. April is looking to be at least as good as March,” he said.
This steady demand underpins FNG’s continued investment in Riverpark. It is entering its next phase of development after nearly completing the sale of its first phase, valued at about P1.2 billion.
The Cavite estate is positioning itself as a key growth hub in Southern Luzon. It is supported by improving connectivity and a growing mix of residential, commercial and institutional developments.
Among its milestones is the opening of the Uniqlo logistics facility, touted as the brand’s largest in Southeast Asia.
This is alongside upcoming projects, such as SM City General Trias and an Ateneo de Manila University campus.
Mirasol said that FNG is prepared to ramp up investments as long as demand remains intact.
“We’re still very much in the early stages of development, as the products successfully launch, we should be able to expect that we will simply do more and more,” he said.
He added that capital spending will remain “significant” and likely exceed last year’s levels.
Still, the company is taking a measured approach in rolling out new projects, given the uncertain environment.
“It’s a matter of launch or no launch,” Mirasol said. “If there’s sufficient demand, we launch. If not, we pace it out.”
He noted that the Philippines continues to face a housing backlog estimated at 4 million to 6 million units. This provides a strong structural underpinning for the sector.
