FILINVEST LAND, Inc. (FLI) has started construction for a new residential property in Trece Martires, Cavite.

The Gotianun-led property developer said in a statement yesterday it recently broke ground for its latest project New Leaf, a modern-minimalist development located within mixed-use district development The Wood Estates.

It will fall under FLI’s Futura brand and will have two housing units, Bernice and Diana, which will come in one-story single attached and two-story single attached. Lot areas will be around 70-73 square meters while floor areas will be between 27 and 37 square meters and will be sold around P1.2 to 1.7 million.

FLI said it wants to tap the market of families moving out of Metro Manila and into the “rural-urban fringe cities.” It said New Leaf will be ideal for those looking to escape the congestion in the central city.

“New Leaf is envisioned to be the ideal home for families looking for a fresh start. It offers a safe neighborhood, gated community, quality residential units, recreational amenities, and facilities to help families live in comfort every day,” FLI Senior Vice-President and Southwest Central Luzon Cluster Head Tristan L. Las Marias said in the statement.

The residential development will have a swimming pool, basketball court, parks and playgrounds, which Mr. Las Marias said he hopes will appeal to families. Its location is an hour away from Alabang and about 1.5 hours from Makati and Bonifacio Global City.

FLI is investing P30 billion for new projects this year, up from the P16 billion worth of projects it opened last year. The company is aiming to have about 1.6 million square meters in gross leasable area by 2023.

FLI is the real estate arm of Filinvest Development Corp., which does business in the banking, power, sugar and hospitality sectors.

In the first semester, FLI posted an attributable net income of P3.1 billion, growing 15% from in the same period last year, due to the 26% increase in gross revenues to P11.81 billion. — Denise A. Valdez