Owing to what the company cites as growing demand in luxury property, Filinvest Group has disclosed plans to develop several high-end condominiums in Makati, Bonifacio Global City (BGC), and in Cebu City down south.
The announcement came in the heels of The Beaufort’s inauguration. Set in BGC, the two-tower luxury condo – the company’s first – enjoyed strong sales, having sold up to 95 percent of its West Tower, and 70-80 percent of its East Tower, as of event.
In a briefing, Catherine Ilagan, executive vice president of Filinvest Alabang Inc. stated that projects are currently in line for two luxury condominiums in Cebu City, two to three in BGC, and one in Makati.
“Our first high-end tower is the Beaufort,” said Ilagan. “This is the maiden premier development of Filinvest for condominiums. We continue to build in mid-[range] and affordable markets.”
“But we felt that the high-end market accelerated in the past two to three years. That’s why we’re expanding to this format.”
Built for P3.5 billion, The Beaufort is projected to earn up to P7 billion in revenue. Filinvest President Josephine Gotianun-Yap sees this as an indication of where to steer the company’s residential development efforts.
“The market for this type of property is now ready,” issued Gtianun-Yap, referring to The Beaufort.
“This novel venture answers the need of that type of home buyers who put premium on space and aesthetics as well as the convenience that can be had living in a condominium.”
The new projects are set to break ground in the following month or two, according to Ilagan.