Filinvest exec: Pandemic to change property sector

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Photo from Filinvest FB page

By: VG Cabuag, Business Mirror

Josephine Gotianun-Yap, Filinvest Development Corp.’s (FDC) president and CEO, said people are now expecting to find several features within the development, such as convenience stores and telemedical consultations, so they will not have to go far to find these services.

“So we’re really actually quite happy that our developments in Filinvest are less dense and our MRB (medium rise building) projects allocate quite a big percentage—60 percent–to open spaces, our buildings are not as tall, I think the consumers will appreciate that more,” Yap said.

FDC owns property developer and shopping mall operator Filinvest Land Inc.

On the retail side, Yap said the company expects its tenants mix would change as e-commerce will be accelerated, but this in turn this will create a demand for logistics space.

The company also operates shopping malls, but Yap admits that it is not a major mall player in the country compared with other developers as the retail spaces that it maintain are meant to serve its township development.

“From the very beginning, since we are not a major mall player, our emphasis is different. Our emphasis was really more on lifestyle, a lot more lifestyle activities. We had predicted that there will be more e-commerce going forward so we made sure our malls are there,” she said.

“And we hope that the consumers will overcome their fear so that they will get used to go under the new normal and consumption can bring back the demand for goods and services,” she added.

 

Read the full story HERE.