in

Filinvest’s P16 Billion Investment in Ciudad BTO Project Signals Major Development in Cebu

Province of Cebu Partners with Filinvest Land, Inc. to Transform 1.2-Hectare Property

Ciudad project

In a significant milestone for Cebu’s development landscape, the Province of Cebu has formally handed over a prime property to Filinvest Land, Inc. (FLI) for the ambitious Ciudad project. This landmark partnership, valued at P16 billion, marks a new chapter in the collaborative efforts between the provincial government and a leading developer.

The Ceremony and Partnership

Ciudad project

Governor Gwendolyn Garcia and Tristan Las Marias, FLI President and CEO, led the ceremonial launch of the Ciudad project on March 22, 2024. The event, held in Apas, Cebu City, underscored the enduring partnership between the province and Filinvest.

Governor Garcia praised Filinvest for its commitment and perseverance in negotiating the updated agreement. This reflects changes in the property market since the initial deal was struck in 2006.

Las Marias emphasized FLI’s dedication to Cebu’s growth and prosperity, highlighting the company’s deep roots in the region. The 1.2-hectare Ciudad parcel is set to become a vibrant hub for innovation and collaboration. It will offer modern office spaces and business accommodations. Las Marias emphasized FLI’s commitment to creating spaces that empower businesses and communities to thrive.

Economic Impact and Benefits

The Ciudad project is poised to catalyze economic activity in Cebu, generating employment opportunities and attracting new investments to the province. Under the amended agreement, Filinvest will pay an increased lease rate and share a percentage of gross sales with the province. Governor Garcia expressed confidence that these economic benefits would enable the province to invest in essential infrastructure and social programs.

Industry leaders, including Darwin John Moises of CIB.O, hailed the Ciudad project as a significant development for Cebu’s business process outsourcing (BPO) industry. The modern office spaces are expected to address the growing demand for BPO facilities. They will further solidify Cebu’s position as a global leader in the sector.

Filinvest’s Legacy in Cebu

Ciudad project

The Ciudad project represents Filinvest’s continued commitment to Cebu’s development. Since the 1960s, the Filinvest Group has shaped Cebu’s landscape in residential, commercial, and leisure sectors. Their influence remains significant today. City di Mare, a master-planned township at South Road Properties, stands as a testament to Filinvest’s contribution to Cebu’s lifestyle. It also highlights their impact on the events scene.

Overall…

The partnership between the Province of Cebu and Filinvest Land, Inc. heralds a new era of growth and prosperity for the region. The Ciudad project’s innovative vision and strategic approach underscore its potential to transform Cebu’s economic landscape. It also aims to elevate its status as a premier destination for investment and development.

 

Read Also: One Oasis Cebu’s Building 8 Tops Off of Ahead of Schedule

Report

Written by Marjo Piedad

Want Your Brand or Story To Be Featured?

Proudly Filipino - HIghlighting the Philippines

🤩Do you have photos, stories, and brands that you’d like to be featured? Do you know someone that needs to be featured?

👉Message us via m.me/ProudlyFilipinoCom and we’ll showcase their talents, skills, products, and services to the world!

👉Don’t forget to follow and like #ProudlyFilipino #BestOfThePhilippines #BestOfTheFilipinos

Comments

Leave a Reply

Your email address will not be published. Required fields are marked *

Loading…

0

What do you think?

Franki Russell

Franki Russell Makes History as Miss Universe New Zealand 2024

Belle Mariano

Belle Mariano Renews Role as Shein Filipina Ambassador