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After officially launching its P25 billion Citta di Mare ?city by the sea? project at the South Road Properties (SRP) of Cebu City, Filinvest Land Inc. will start marketing their real estate products here and Europe.
Tristan Las Marias, Filinvest first vice president, said they were focusing on Europe, which has a steadfast economy, and the local market to sell commercial and residental properties.
?The local market?s strength is dependent on OFW remittances and US rebounding can help. That's very important for us,? said Las Marias.
The formal launch was held last Aug. 28 at the new Crimson Resort and Spa, a Filinvest property in Mactan.
The 50.6 hectare Citta di Mare to rise on reclaimed land in SRP is a joint venture of Filinvest, the developer, and the Cebu city government,which owns the land.
Las Marias said they aim to complete the new seaside project in 10 to 15 years.
?As long as our economy shows robust improvements and rebounding, it's going to be a very exciting real estate selling for the next 5 to 10 years,? Las Marias told reporters.
Citta di Mare was described as a master-planned community with a residential resort lifestyle.
A ten-hectare waterfront lifestyle strip called ?Il Corso? will be developed along with four themed residential community that will occupy 39 hectares.
Over 65 percent of the property will be allocated for open spaces and landscaped greens so that the communities will be ?relaxing, pedestrian-friendly? with auto-free zones.
Las Marias said that while the SRP development is going on, Filinvest is looking at five other investment opportunties in Cebu.
?We also have horizontal development opportunities in the northern part of Cebu. Maybe, we?ll be developing more hotels, and commercial buildings for BPOs (business process outsource),? said Las Marias.
He said Filinvest is pushing these projects as long as they don?t compete with Citta di Mare, Filinvest?s biggest project for Cebu.
Filinvest?s website lists r five Cebu projects: Aldea del Sol and Mactan Tropic II in Lapu-Lapu City, Corona del Mar in Talisay City, the Grand Cenia condotel near the Cebu Business Park, and One Oasis Cebu in Mabolo, Cebu City.
In Mactan, Filinvest is developing the Seascapes Resort Town on a 12-hectare property for a residential and resort living.
?Crimson Resort and Spa is just part of the whole development. There are only about 60 lots to be sold,? Las Marias said.
