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Apr 23, 2016 @ 8:25

Filinvest set to develop Clark Mimosa Estate over 5 years

 

THE Filinvest Group will start developing a large parcel of land in Clark this year, positioning itself to capitalize on the upbeat growth prospects of the northern corridor.

On the sidelines of the company’s annual shareholder meeting in Ortigas district, Filinvest Land, Inc. President and Chief Executive Officer Lourdes Josephine Gotianun-Yap told reporters the Filinvest group has committed to spend P5 billion this year to develop the Mimosa Leisure Estate over the next five years, inclusive of the P800-million financial bid, the minimum acceptable bid.

The Filinvest Group is signing the lease agreement with Clark Development Corp. today. The consortium of Filinvest Development Corp. (FDC) and its real estate arm Filinvest Land was the lone bidder for the 201.64-hectare (ha) property on Jan. 15.

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