PROPERTY developer Federal Land NRE Global Inc. (FNG) is increasing its capital expenditures (capex) this year as it continues the phased development of its Riverpark township in Cavite while closely tracking market demand amid recent uncertainties, a top executive said.
FNG President Thomas Mirasol told reporters last week that the group’s spending program for the estate — still in the early stages of development — would be substantially up from 2025.
“Let’s just say that it’s significant,” he said. “Of course, it will still be higher than what was spent last year.”
Mirasol said the increase in spending would reflect the continued rollout of residential, commercial, logistics and institutional components within Riverpark, which is being developed in phases.
“We’re still in the very early stages of the development of Riverpark,” he said. “As the products successfully launch, we should be able to expect that we will simply do more and more for as long as the demand is there.”
Mirasol said the company was taking a cautious approach to new project launches, relying on data such as letters of intent and expressions of interest before proceeding.
“We’re taking extra care to make sure that the demand that we’re seeing is really there,” he said.
He added that while the company had not seen a drop-off in sales velocity since February, it continued to monitor market conditions closely before committing to additional launches.
“So far, we’ve not seen any drop-off in our sales velocity,” he said. “March was good. April is looking to be at least as good as March.”
Mirasol said project launch decisions remained flexible depending on demand sustainability.
“If there’s sufficient numbers there to give us confidence to launch, we will launch,” he said. “If there is not enough data that says the demand is sustainable, then we can slow down or pace it out.”
He also cited long-term housing demand as supportive of the sector, noting an estimated backlog of four to six million units in the country’s residential market.
“The need for residential properties is well-established,” he said.
Riverpark is being positioned as a mixed-use township combining residential, commercial, logistics, and institutional developments, supported by ongoing infrastructure improvements in Cavite.
FNG is a joint venture between Federal Land Inc., a subsidiary of listed firm GT Capital Holdings, and Nomura Real Estate Development Co., Ltd.
GT Capital shares on Friday closed up P5.00, or 1.01 percent, to P500 each.
