DUMAGUETE CITY – The pioneering beach land real estate investment venture by Filinvest Land Inc has turned over its first batch of 244 units to its clients in a simple turnover ceremony Monday at the former Escaño estate complex along Piapi Beach. Close to a hundred units are now ready for occupancy. The turnover has been done gradually since May.
Building A of Marina Spatial comprising 244 units was formally turned over at the site of Filinvest’s Marina Township, a development project that would include the three condominium buildings, a shopping mall, facilities, and a hotel. This according to Phil Calumpang, Filinvest- Dumaguete manager under the real estate developer Filinvest Land Inc.
City Mayor Felipe Antonio Remollo has lauded real estate developer Filinvest Land Inc. in setting the stage for investor confidence here and initiating a condominium-style of living in Dumaguete.
Monday’s formal turn over and blessing of the first of three condominium buildings of Filinvest’s Marina Spatial at Barangay Piapi, marks the completion of the first condominium project in the city that is seen to usher in more investments of this nature.
Those who bought units, mostly balikbayans, expat residents, and retirees made good the reputation of Dumaguete as one of the best cities in the Philippines to retire.
Filinvest is currently scouting for another site for a similar venture in the future.
The groundbreaking for this project was done two years ago.
The mayor said with big things happening in the city, his office has received a lot of queries on constructing hotels and malls here.
He said the company has delivered what it promised to build in two years and there is more to come.
Filinvest wants to make sure all permits are in before excavations start for another building so they can also start the pre-selling, and in the next two to three years, delivery of the units can be expected.
Remollo said the city’s on-going projects will complement that of Filinvest in bringing in more investors here.
Among the support infrastructure projects is the extension of the boulevard to the north, to be followed by the extension of the boulevard to the south to make Dumaguete more attractive to investors, with the shoreline being the most popular site in the city.
The mayor also made sure that developments will be extended to the farthest barangay as part of the city’s master plan.
Other projects include the diversion road traversing the city to decongest traffic in the Poblacion or city proper, the construction of the satellite hospital in Talay, a satellite market in the vicinity of Junob and Talay, a dormitory project for athletes in Talay, and the relocation of the fire department and the police in the middle of Talay, among others.
Remollo believes that Filinvest will be able to recover its investments in less than five years.
He told Calumpang that if there would be a delay in the processing of papers by certain city personnel, it should be immediately reported to him.
Calumpang also confirmed that Filinvest is expanding to other cities but its concentration is in Dumaguete.
Another project being envisioned is a housing project in the outskirts of the city.
At the area fronting the sea will also rise a 9,000 square meter four-story mall for food and beverages, coffee shops, boutiques like the Festival Mall in Manila, shops, a basement and another floor for business process outsourcing (BPOs) offices.
Calumpang said this will mean another substantial amount for the project that will open job opportunities for more or less 500 local residents.
With investments coming in, the local chief executive believes a lot of small economies would sprout and are expected to mushroom such as laundry business, security agencies, and hardware stores.
Remollo, meanwhile, said he is happy to have a governor who is supportive of his endeavors for this capital city.
Governor Roel Degamo could not make it to the turnover so he was represented by Provincial Administrator Dr. Henry Sojor. (PNA stringer CHOY GALLARDE)