Federal Land NRE Global Inc. (FNG) is maintaining an optimistic outlook on the Philippine property market, pushing forward with major investments despite ongoing global economic uncertainties.
In a recent statement, FNG President Thomas Mirasol emphasized that the company has observed no decline in buyer demand, allowing it to proceed confidently with its development plans. "We've not seen any drop-off in our sales velocity since February," Mirasol noted. "March performed well, and April appears to be tracking at least as strongly."
This sustained interest is fueling FNG's continued expansion of its flagship Riverpark community in Cavite, a project valued at approximately ₱1.2 billion for its initial phase. The development is positioning itself as a central growth corridor for Southern Luzon, bolstered by enhanced infrastructure and a diverse mix of residential, commercial, and institutional offerings.
"We're looking at things very carefully as any prudent company should," Mirasol stated, outlining the firm's strategy of gauging market interest through letters of intent before launching new projects.
Significant milestones at Riverpark include the recent opening of Uniqlo's largest logistics facility in Southeast Asia, alongside upcoming additions such as an SM City mall and a new campus for Ateneo de Manila University.
Mirasol indicated that FNG is prepared to increase its capital expenditures, which are expected to surpass last year's levels, provided market demand remains robust. "We're still very much in the early stages of development," he explained. "As our products successfully launch, we anticipate scaling up our activities accordingly."
Nevertheless, the company is adopting a cautious approach to new project rollouts in light of the unpredictable global landscape. "It's a matter of launch or no launch," Mirasol clarified. "If sufficient demand exists, we proceed. If not, we adjust our pacing."
A key factor supporting FNG's confidence is the Philippines' substantial housing shortage, estimated at between 4 million and 6 million units, which provides a long-term structural foundation for the real estate sector's growth.