Filinvest eyes more areas in Cebu

CEBU CITY, Philippines – Filinvest Land Inc. (FLI) of the Gotianun family has expressed interest in bidding for more areas in the city of Cebu’s reclaimed property called South Road Properties (SRP).

FLI president and chief executive officer Josephine Gotianun-Yap said in an interview the real estate developer is looking at expanding its property in SRP.

“We will always look at it. We are always open at investing more in Cebu City,” Gotianun-Yap said.

FLI is developing the 40-hectare City di Mare township project in SRP under a joint venture agreement with the Cebu City government.

In a separate interview, Cebu City Mayor Michael L. Rama said more lots in the 240-hectare SRP are being set for auction in the coming months.

“Next batch for bidding is a 26-hectare lot and a 19-hectare lot,” he said.

Rama said four firms have already expressed interest in the bidding but declined to identify these companies.

He said another 60 hectares are also being eyed to be reclaimed, bringing SRP’s total area to 300 hectares.

Aside from FLI’s 40 hectares, the SM Group currently is the only holder of land in SRP. The SM group of tycoon Henry Sy is currently developing SM Seaside City in its 30-hectare site in SRP.

The SRP is located on the east coast of Cebu City and will soon be home to various mixed-use developments.