Gotianuns seal deal to develop Mimosa estate
The Filinvest group of the Gotianun family formally signed today a 50-year lease development agreement with the Clark Development Corp. for the use of the 201-hectare Mimosa leisure estate.
Located 100 kilometres north of Metro Manila, the Mimosa leisure estate includes an operating hotel with 303 rooms and 34 four villas under the Holiday Inn brand as well as a 36-hole golf course.
It has around 50 hectares of land that can be developed and further enhanced to meet the growing demands of the Clark Freeport Zone.
The 50-year lease is renewable for another 25 years, said the Filinvest group, developer of the Filinvest City in Alabang, Muntinlupa and the 70-hectare City Di Mare at the South Road Properties in Cebu City.
Through Filinvest Mimosa Inc., the Filinvest group is investing about P5 billion to develop the property into an integrated leisure hub.
“We are looking forward to managing and operating this leisure development because we anticipate that tourism will grow significantly in the area, with the Clark airport playing a significant role as an international hub.
For Mimosa, we envision an integrated leisure destination that incorporates residential, retail, as well as office developments within the estate.
We are also looking at new hotel developments that will complement the existing ones,” said Josephine Gotianun-Yap, president of Filinvest Mimoda and Filinvest Development Corp.
The group is looking to tap the debt market to fund its P20 billion capital expenditure program for this year.
Property unit Filinvest Land is currently developing several townships including the 677-hectare Timberland Heights and the 300-hectare Havila in Rizal, and the 350-hectare Ciudad de Calamba in Laguna.
It recently inked an agreement with the Bases Conversion Development Authority to develop 288-hectare Clark Green City.