In a briefing following the company’s annual stockholders’ meeting yesterday, FLI president and chief executive officer Joseph Yap said they remain focused on strengthening their position as one of the top housing suppliers to the majority of Filipino families.
Bulk of this year’s unit launches will come from 14 projects and 19 additional phases as against 11 projects and 22 expansion phases in 2011.
Last year, the company made available a total of 6,503 fresh units worth around P12.1 billion.
With the acute homes shortage in the country, FLI is looking to build 4,500 socialized housing units valued at P1.85 billion. Each unit is priced at P400,000 and below.
Yap noted that the company’s sales reservations have grown by three-fold in the past five years from P3.8 billion to P11.4 billion. Around 91 percent of its real estate sales come from the three segments with the balance of nine percent coming from the high-end market.
FLI is expanding its base of mid-rise buildings, which Yap believes are the best housing alternative for the urban Filipino family, from 11 to 16 by 2013.
The company is also enlarging its geographical footprint to reach 43 towns and cities nationwide by 2013.
Aside from this, FLI is also beefing up its office portfolio with gross leasable area increasing to 371,000 square meters by 2016, up 108 percent from the yearend foreast of 178,000 sqm.
FLI is issuing P11 billion in fixed-rate bonds to support its expansion initiatives.
http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801322
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