PROPERTY DEVELOPER Filinvest Land, Inc. (FLI) is expanding its Filinvest Technology Park in Calamba City, Laguna as part of efforts to boost its presence in the Southern Tagalog region.
In a stock exchange disclosure on Thursday, FLI said it held the groundbreaking ceremony for its 25-hectare Filinvest Innovation Park-Ciudad de Calamba (FIP-CDC), which seeks to expand the 50-hectare technology park.
FLI said the entire FIP-CDC is an economic zone registered with the Philippine Economic Zone Authority (PEZA), making it eligible for tax perks, simplified trade processes, and special visa privileges for foreign employees.
“FIP-CDC is an expansion of FLI’s 50-hectare Filinvest Technology Park, a PEZA ecozone established in 2002 in Ciudad de Calamba, a 350-hectare Modern Filipino Hispanic Filinvest townscape. FIP-CDC joins FIP New Clark City in Capas, Tarlac as FLI’s concrete commitment to catalyzing the country’s economic growth through its strategically located innovation parks,” FLI said.
Once completed, FID-CDC will lease out ready-built factory (RBF) and built-to-suit units aimed at the various requirements of prospective locators.
The first two RBFs are projected to be finished by end-2023, while further land development of FIP-CDC lots will be finished by mid-2024.
According to FLI, the RBFs meet Grade A warehouse specifications including higher ceiling clearance and floor load capacity, elevated production floors with loading docks, and superior infrastructure support for utilities, including access to high-speed internet, and fire detection and suppression.
The RBFs will also have provisions for the installation of rooftop solar panels and rainwater harvesting.
“FIP-CDC marks a significant step forward for FLI as we expand our industrial presence in the Southern Tagalog region. With its cutting-edge green and digital features, FIP-CDC will offer a prime environment for logistics, e-commerce, and light manufacturing locators. We are proud to provide a platform that not only supports businesses but also contributes to the growth of the local economy,” FLI President and Chief Executive Officer Tristaneil D. Las Marias said.
On Thursday, FLI shares at the local bourse were steady at 67 centavos apiece. — Revin Mikhael D. Ochave