FILINVEST Land Inc. (FLI) said it broke ground for the second phase of its Meridian Place project in Cavite, after sales of the first phase went faster than expected.

“We are humbled that phase one is selling faster than we expected,” said Rey Ascaño, Filinvest senior vice president for South West North Luzon cluster. “The ground breaking for phase two is an affirmation of our clients’ support for this project.”

Ascaño said the company is optimistic that its second phase will continue to sell to more consumers looking for a start-up home that “will not break the bank.”

“We also hope to cater to OFWs [overseas Filipino workers],” Ascaño said. They remain as one of the main driving forces of the property industry with more than 60 percent of remittances [going] to real-estate investments.”

According to the web site The Industry, there is an average requirement of 345,941 housing units per year from 2012 to 2030.

This accounts for 42 percent, or 2.58 million, for economic housing and 10 percent, or 605,692, for low-cost housing.

Ascaño said the development of Meridian Place comes as a growing number of housing projects move further away from Metro Manila to the rural-urban fringe cities, such as Cavite.

“In [these places, they] can escape the heavily congested city life and enjoy fresh air and clean surroundings in a community like this.”

FLI’s project is in General Trias, Cavite. The project falls under three model units—Bernice, Caroline and Danessa. The latter follows the brand’s “cast-in-place” feature.

The company is selling a total of 1,310 units for the two phases of the project. Phase one is about 80-percent sold and the second phase is at 14 percent. Average price for the units ranged from P0.9 million to P1.3 million.

Each unit has floor areas ranging from 27 to 37 square meters and lot sizes between 60 to 75 sq m.

It is also important to stress that what sets FLI apart from other affordable housing projects is its variety of fine amenities. These amenities ensure a complete living experience for our client, Ascaño said.

Turnover for the second phase is on 2019.

Source: BusinessMirror