FILINVEST LAND, Inc. (FLI) has broken ground for the fifth tower in its Studio City development in Alabang, Muntinlupa City, amid the continued demand for living spaces from employees of business outsourcing firms in the area.
In a statement issued Thursday, the Gotianun-led property developer said Tower 5 will be an addition to the ready rental market amid the concentration of business districts in Alabang. This forms part of Studio City, FLI’s condominium community developed specifically for the needs of employees working within the area.
“We are proud of this development because we know that we have created a condo community that yuppies would be proud to call their own, as well as a lucrative choice for property investors because of the booming rental market from the large BPO (business process outsourcing) work force in Northgate Cyberzone,” FLI Senior Vice-President Francis V. Ceballos said in a statement.
Tower 5 will house a total of 450 residential units spanning from 16 to 21 square meters. Unit prices range from P2.1 million to P2.3 million. Units are already equipped with a bunk bed, wardrobe close, working desk, and entertainment rack.
Among Studio City’s amenities include a game room, fitness gym, a gazebo, jogging path, and swimming pool. FLI will soon add a basketball court in Tower 5. The company noted that these amenities take into consideration the active lifestyle of its occupants.
Other than the amenities, FLI said that the tower is located in a prime spot, surrounded by major educational, medical, and commercial institutions.
“Professionals can reach their work destinations in Northgate Cyberzone, a premier IT park, Madrigal Business Park, and Makati Central Business District in no time. It is really an ideal residence where you can experience the live-work-play lifestyle,” Mr. Ceballos said.
FLI delivered an 7.2% increase in its net income attributable to the parent for the first half of 2017 to P2.66 billion, on the back of higher earnings from both its residential and leasing businesses. Revenues registered were at P9.5 billion.
Shares in FLI dipped by 0.96% or two centavos to close at P2.06 each at the Philippine Stock Exchange on Thursday. — Arra B. Francia
