Phinma Properties to focus on high-end market

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Phinma Property Holdings Corporation is looking to “scale up” its product line in 2017 as it plans to launch a town house project targeted at the higher end of the market, a company official said.

In an interview, Roberto M. Laviña, Senior Executive Vice President and Chief Operating Officer of PHINMA Corporation, the parent firm of Phinma Properties, told The Manila Times that the firm is looking to offer new products to the market to complement its existing offerings.

“We will continue to do our midrise affordable housing and we will be introducing new products along that line, possibly, some townhouses in the Alabang area,” Laviña said.

Laviña emphasized that Phinma Properties has two main components, one for socialized housing and one for urban housing, which until now has catered more to the affordable housing market.

For its urban housing component, Laviña said the firm would launch a town house project in the Alabang area, which it intends to cater to the higher end market.

“We’re pushing into that particular market already . . . . A little higher end, we’ll probably offer that between about P13 to P20 million per unit,” Laviña said.

The Alabang project will offer about 100 units, according to Laviña.

Similarly, the COO noted that the firm recently launched a project under the urban housing component, a midrise affordable housing project in Laguna, which will offer 800 to 1,000 units when completed.

“We’ve just launched another project, another affordable housing project in Sta. Rosa, Laguna, but that’s also going to go full blast in 2017,” Laviña said.

Unit prices of the Laguna project start from P1.5 million, according to Laviña.

In addition, Laviña noted that the firm would also launch more projects under its socialized housing component, which is in partnership with various local government units.

“Of course there will be launches on the soho (socialized housing) side. We will have Strikeville 5 [in Bacoor, Cavite]. That’s going to be launched next year. We will have something in San Jose Del Monte [Bulacan]. And we hope to have another one in Novaliches, Davao also, and Cebu,” Laviña said.

Typical development cost of a row house under the socialized housing category is P350,000 to P400,000, according to Laviña. Average socialized housing units measure 27 square meters and are sold at about P450,000 to P500,000 per unit.

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