By Lovely A. Carillo
DAVAO CITY, (PNA) — Davao City-based real estate developer Filinvest Land Inc (FLI) made its condominium projects more environment-friendly, and saved 40,000 pieces of plywood and 1.1 million board feet of lumber for its 2011 projects alone.
“We have saved around 3,000 pieces of plywood and 85,000 board feet of lumber per building for the new Spatial project that includes eight buildings with six floors each,” FLI First Vice President for Visayas and Mindanao Tristan L. Las Marias, said.
The 8 Spatial Medium-Rise Buildings (MRIs) will be built on a 3.8 hectare property along Maa Road which is a few maters walk to the NCCC Supermarket and just a few minutes away from the major educational institutions and commercial establishments in the city.
But since the Maa area where the project is located, has been identified as a frequently-flooded area, FLI has filled up the space occupied by the development such that it will be much higher than the road level.
With only 30 percent of the total space to be used for buildings, he said, 70% of this new development will be open spaces, trees and pathwalks. The development also made use of reusable forms and no longer dependent on wooden materials.
Las Marias said they will also establish a sewage treatment facility that will collect rainwater and recycle it for toilet flushing and for watering the landscape.
FLI is investing P4 billion in the city’s real estate market by building the 8 MRBs that targets middle income Dabawenyos.
“The dominant target market for 8 Spatial Davao is the Class C of middle income segment that is earning a joint income of at least P40,000 monthly with roughly P12,000 disposable income,” he said.
Las Marias said the initial investment cost is P2 billion but the full value for the eight buildings with 1,600 condominium units is P4 billion. A buyer need only to pay a 10 percent downpayment (roughly P130,000 for a P1.3M unit) payable in 18 months with the 90 percent balance payable through bank financing in five to 10 years.
The units are so affordable, he said, that the easy package requires only a P6,000 monthly amortization,” he said. All units will occupy a 32 square meter space with two bedrooms which is ideal for start-up families.
Occupants can expect more efficient and functional space inside their units because the developer took off the laundry space from the unit and relocated it to the roof deck.
He said MRBs are the best housing alternative for the urban Filipino family as they offer a much better living environment due to its low-density and wide open space compared to high-rises crammed with thousands of units.