Federal Land sees reservation sales growing by 25% in 2013

With a growing customer base looking for residential, commercial and mixed-use property, Federal Land Inc. is set to roll out four or five new projects this year and expects reservation sales to grow by 25 percent to P15 billion as well, a company executive said Wednesday.

“We’re still seeing very strong growth. Buyers have become more selective, looking for quality locations or products. They have become more sophisticated, so the developers have to keep up,” said Federal Land president Alfred Ty on the sidelines of the listing ceremony for GT Capital Holdings Inc.’s P10 billion worth of bonds on Wednesday.

Federal Land is the holding company's real estate unit.

The company will allot P8 billion to P10 billion for capital expenditures this year. It spent P7 billion on capex in 2012.

Its current projects include mixed-use developments in Metro Manila, such as the luxury complex Veritown in Bonifacio Global City. — BM, GMA News