Based on the disclosures, the due diligence on the property, the existing leases, the possible development timeframe, as well as the minimum bid price and the payment schedule, FLI felt that acquiring the FTI property under the current terms does not conform to its land banking business model and its return criteria. However, FLI added that should the bid be unsuccessful and should the property be rebidded under different terms that are more in line with its financial model, it would reconsider its position.
FLI has one of the largest land banks among the country’s developers. As of the end of 2011, it had a land bank of 2,288 hectares, the bulk of which is in the Mega Manila area. This is sufficient to sustain the Company’s growth for over 10 years. For 2012, FLI is targeting to launch new projects and additional phases of existing projects with an estimated sales value of Php14.0-14.5 billion or 20% more than the value of projects it launched in 2011.
- https://www.affordablecebu.com/
