Tak­ing the Mid­dle Ground

Newsweek International - - PROMOTION - First Shel­ter Ven­tures and Realty Cor­po­ra­tion www.fsvrc.com

“Real es­tate serve the is boom­ing, high-end but mar­ket, most leav­ing de­vel­op­ers the Chair­man mid­dle and be­hind,” CEO of says First Fed­erico Shel­ter Ven­tures A. Laxa, and Realty Cor­po­ra­tion, a de­vel­op­ment com­pany with “over ten years of ex­pe­ri­ence; “This is where First Shel­ter comes in. Cater­ing to first-time buy­ers who can af­ford $32,500-57,500 be­cause it is cheaper than rent­ing. There is sig­nif­i­cant de­mand — our Alsea project sold out in three days.”

In Paranaque, 160-unit Alsea is char­ac­ter­is­tic of the com­pany’s ap­proach to plan­ning projects to serve cus­tomers’ needs. A sim­i­lar de­vel­op­ment is Bloom­field, where it is build­ing a sold-out sec­ond phase and pre-sell­ing a third. At the higher-end of the com­pany’s of­fer­ings is Avil­ion Gar­dens, a mixed de­vel­op­ment with an av­er­age unit price of about $190,000. First Shel­ter of­fers in­no­va­tive, af­ford­able fi­nanc­ing op­tions and an un­con­ven­tional con­struc­tion method, Laxa adds: “We use cast-in-place tech­nol­ogy, sav­ing on la­bor and time. We have not had one com­plaint from a buyer and I at­tribute that to our tech­nol­ogy.” Al­though Manila has seen large land-price in­creases, First Shel­ter’s busi­ness model for mid­dle-in­come homes is prof­itable. As well as its larger de­vel­op­ments, it is also buy­ing land blocks in prime ar­eas for town­houses and will con­tinue ac­quir­ing plots for medium-scale projects, po­ten­tially with part­ners. “Our aim is to build 3,000 houses ev­ery year,” says Laxa.

Fed­erico A. Laxa Chair­man and CEO, First Shel­ter Ven­tures and Realty Cor­po­ra­tion

Newspapers in English

Newspapers from UK

© PressReader. All rights reserved.