FNG sees steady sales, to launch projects based on demand

FEDERAL LAND NRE Global, Inc. (FNG) said it has not seen any drop-off in sales across its projects and will launch new developments only when demand is sustainable.

“We’ve not seen any drop-off in our sales velocity ever since February. March was good. April is looking to be at least as good as March,” FNG President William Thomas F. Mirasol told reporters on Friday last week.

He said the company will proceed with new project launches only when demand conditions are sustained.

“Until things really settle down, we are just making sure we’re absolutely sure that the market is there, the demand is sustainable. And if we have that, then we launch,” he said.

Mr. Mirasol said existing projects continue to perform in line with expectations, with the company monitoring sales data closely before committing to new developments.

“We check the data. If there’s more than enough demand that we see in order to give us confidence to launch, we will launch. If there is not enough data that says the demand is sustainable, then what we can do is we can slow down,” he said.

FNG is a joint venture between Federal Land and Japan’s Nomura Real Estate Development Co. Ltd.

Its Riverpark project in Cavite is entering its next phase of development, supported by infrastructure projects and new locators. The estate is being developed as a mixed-use township combining residential, commercial, logistics and institutional components in southern Luzon.

On Friday, FNG, together with Fast Retailing Philippines, Inc., opened the Uniqlo logistics facility at Riverpark North, the brand’s largest hub in Southeast Asia.

Other developments within the estate include SM City General Trias, which is expected to be completed by 2026, and a 15-hectare Ateneo de Manila University campus projected to open by 2030.

Residential development is also progressing, led by Yume at Riverpark, which is about 94% complete in site development and set for turnover in 2026.

FNG is also planning mid-rise residential developments within Riverpark Gateway, while its Riverpark North commercial lots, launched in 2024, have been fully sold.

The township is supported by infrastructure projects such as the Cavite-Laguna Expressway, the Cavite Bus Rapid Transit System Phase 1 and the Cavite-Tagaytay-Batangas Expressway, which are expected to improve connectivity in the area. — Alexandria Grace C. Magno