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News: Filinvest Land to put up business hotel in Davao - 12 May 2008
DAVAO CITY—Filinvest Land will construct a businessman’s hotel here this year.Tristan Las Marias, Filinvest vice president for the Visayas and Mindanao, said the hotel will rise in uptown Buhangin and will cater mainly to business travelers. 
Filinvest held its groundbreaking ceremony Friday to start the construction of two condominium buildings in a 2.3-hectare property on Ecowest Drive in Ecoland Subdivision in Matina, south of downtown.


The two buildings form part of the seven five-story condominium project scheduled over three years. Called One Oasis Davao, the project will comprise four condominium and three condotel buildings.  The Filinvest executive added that all 120 units in the first building have been already sold.


Another Filinvest project in the area is the upscale Kembali Coast, a subdivision with a long beach front in Kaputian District in the Island Garden City of Samal.

 “People are tending towards the city centers, where shopping malls, churches, schools and places of work are accessible from their houses or housing units,” said Andrew T. Gotianun Jr., vice president at Filinvest Land.

 “This is becoming part of city living, especially in old cities and capitals in Asia,” he said. “People want to cut travel time and cost. The price of oil is becoming very high, and people just want to be in the most accessible location as possible,” he said.


He said the capitals like Seoul and Bangkok have built already constructed several condominium units, mostly high-rises “and very affordable.”  He added that “last year alone, my friend in Thailand constructed 250 units in one year.”


The rich in some Asian capitals may still prefer living inside gated communities and other prime estates in the countryside or rural areas, but “many others are moving into the city centers.”


Gotianun said that the company’s outlook on the Philippine economy remained bullish and ascribed this to the “more stable banking system with low interest regime, a supportive and well-managed government and a clientele base composed mostly of overseas Filipino workers and Filipino expatriates.

Source: Business Mirror Online, By Manuel T. Cayon, 12 May 2008

Posted By: PhilCTTIS Data Center 
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