FILINVEST Land, Inc. (FLI) broke ground for its latest residential project called Mira Valley in Rizal province that looks to attract middle-income families.
The Gotianun-led property developer said Tuesday that Mira Valley will offer a total of 105 house and lots and 70 lots ranging from 112 to 326 square meters (sq.m.).
The 28-hectare project is located inside the company’s 300-hectare estate called Havila, which borders the municipalities of Taytay, Antipolo, and Angono Rizal.
FLI seeks to attract the middle income market, or families earning at least P100,000 per month, for the project. These include couples aged 35-40 years old who would like to relocate their growing family near Metro Manila; start-up families who want to change their living environment from condominiums; or those from Pasig, Cainta, Marikina, and other areas in Rizal looking for alternative living options.
Amenities in Mira Valley include a river park, meditation garden, gazebo, view deck, and mini events area.
“Filinvest proudly offers Mira Valley. This is the only development here in Havila with natural water features. It is really blessed by nature and we want the residents to experience living in a community like Mira Valley,” FLI Senior Vice-President and Northeast Cluster Head Francis V. Ceballos said in a statement.
FLI has P30 billion worth of projects lined up for the year, banking on the continuous growth of the property market. It is focused on expanding its residential business, which caters the affordable and middle-income markets through brands such as Futura and Aspire.
The company is likewise building up its recurring rental income business so that it would account for 50% of the company’s total net income in the future. It is set to end 2023 with about 1.6 million sq.m. in gross leasable area.
Incorporated in 1989, FLI is the real estate arm of Filinvest Development Corp., which also has investments in banking, power, sugar, and the hospitality sector.
FLI’s net income attributable to the parent jumped 24% to P1.79 billion in the first quarter of 2019, following a 17% increase in gross revenues to P6.83 billion.
Shares in FLI gained 1.04% or two centavos to close at P1.95 each at the stock exchange on Tuesday. — Arra B. Francia