FLI sees P1.8B in sales from new Iloilo township

Developer Filinvest Land Inc. (FLI) has broken ground for a new township in Iloilo province, with the Gotianun-led firm expecting at P1.8 billion in sales from the residential component alone as demand for properties outside Metro Manila rises.

In a stock exchange filing on Friday, FLI said the 11.4-hectare Iloilo Centrale would stand in the municipality of Leganes and house residential units, commercial spaces and retail pods.

“Iloilo Centrale’s town center brings everything closer, providing easy access to everyday essentials,” FLI first vice president and residential township business head Gerard Marcelo said in a statement.

This is FLI’s second project in the province after the One Spatial Iloilo condominium in Mandurriao district.

It also extends the company’s reach in the Visayas, apart from ongoing developments in Cebu and Dumaguete. FLI previously said it had wanted to launch P25 billion worth of projects this year through the residential business, its main income driver.

In September, FLI announced plans to venture into the condotel business via a P400,000 acquisition of a Tagaytay City-based hotel operator.

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FLI said its executive committee had approved a proposal to buy all 4,000 outstanding shares of Fora Services Inc. (Fosi) for P100 each.

Fosi, which is currently owned by Filinvest Hospitality Corp., manages and operates real estate projects in Tagaytay, with Quest Hotel as its main hospitality project.