With several projects in the pipeline, the company is successfully diversifying its real estate portfolio

he Philippines moved up 5 positions in the World Economic Forum's most recent Travel & Tourism Competitiveness Report, reflecting the island nation's growing popularity as a tourist destination. Filinvest is taking advantage of that growth with several projects in tourist areas, including on the island of Cebu and in Davao City on Mindanao island.

On Cebu, Filinvest's Grand Cenia Condotel project offers a condominium/hotel combination, permitting buyers to own a unit in the complex that they can occupy when they choose, and which can be put into the complex's rental pool for others to use, transforming it into an investment property.

The project has been a success, attracting both Filipino and foreign buyers, says Filinvest President and Chief Executive Officer Joseph M. Yap. “We have sold half of the floors already, within just three months. Most of the investors come from all over the Philippines.”

Another tourist project is the Bali-themed Kembali Coast leisure residential project on Samal Island, a short boat ride from Davao City, the largest city on the southern island of Mindanao. Filinvest collaborated with the family owning a 50-hectare piece of land with a 1.8 kilometer (1.1 miles) beachfront.

The residential development has homes on and near the beach, and has been a roaring success, according to Mr. Yap. Phase 1 of the project sold out within 3 months of its opening and Phase 2, which is now open, has also been very popular with buyers.