Fil-Estate to put up P500M project in Iloilo: Gives P120,000 aid for typhoon Frank victims
Fil-Estate Group of Companies will pour in P500 million in a subdivision project in Sta. Barbara town in Iloilo.
The real estate giant will initially build 500 units within the next two years in their project dubbed "Sta. Barbara Heights" at Barangay Inangayan around 17 km north of Iloilo City.
"This will be the start of a new town development," said Fil-Estate Group of Companies Chairman Robert John Sobrepeña in a press conference yesterday during the inauguration of their Iloilo office.
The project, situated on a 153-hectare area near the Iloilo Golf and Country Club, Inc. and the Iloilo airport, will also include recreational facilities, according to Sobrepeña.
He said the real estate project would be "flood-free" because it is situated on an elevated area.
During the inauguration, the company turned over P120,000 to the Iloilo Economic Development Foundation (ILED) as assistance to victims of typhoon "Frank"
ILED Secretary Valerie Maravilla said the P50,000 will be given to the Jaro Archdiocese Social Action Center for distribution to purchase assistance to flood victims. Another P50,000 will go to the Sta. Barbara parish to help rebuild homes for victims.
The remaining P20,000 will be given to the Ilonggo Producers Association (IPA) to assist small and micro businesses severely affected by the typhoon to recover from their losses, according to Maravilla.
"We will find ways to continue to help Iloilo (flood victims)," said Sobrepeña.
He said they will also ensure that their project is environment-friendly by building "green homes."
The housing units, that would cost an average of P1 million, will use energy-saving devices and structures that maximizes natural lighting and ventilation and will be built using recycled materials.
Fil-Estate will also plant 100 trees for every tree that will be cut in developing the project site and will implement a continuous tree planting program starting next month before the project launching on August 29.
Sobrepeña said their new investment after doing business in Iloilo for 15 years and building two subdivisions shows their bullish outlook on the Iloilo market.
"Iloilo is one of if not the best market," said Sobrepeña.
He said "the ability of Ilonggos to save and put (their money) in the most important things like housing is legendary" noting that the city has the most number of branches of banks outside of Manila.
"Iloilo is one of the city centers that should developed alongside Metro Manila," said Sobrepeña.