FILINVEST Land, Inc. (FLI) on Monday signed a lease agreement with an Australian electric vehicle battery manufacturer as the first locator in its industrial park in Tarlac.
“Filinvest Innovation Park-New Clark City warmly welcomes StBattalion as its very first locator. Their presence underscores the park’s vision as a leading sustainable business hub,” FLI President and Chief Executive Office Tristaneil D. Las Marias said.
“We are committed to building large-scale, integrated projects to become the stage for diverse developments, including businesses that will catalyze progress and employment for the local community,” Mr. Las Marias added.
StBattalion signed a five-year renewable lease with FLI subsidiary FCGC Corp. for two ready-built factory units at its New Clark City development.
FLI said each of the two units covers about 2,500 square meters in gross leasable area. The units will be located at the property developer’s 120-hectare industrial park.
The industrial park is inside the 9,450-hectare New Clark City, the greenfield development inside the Clark Special Economic Zone in Capas, Tarlac. It is registered with the Philippine Economic Zone Authority, thus locators enjoy tax perks, simplified import-export procedures, and visa facilitation assistance for foreign employees.
The industrial park’s ready-built factory compound will feature 10 prime model units to be built on a 40,000-square-meter lot.
“Each unit is designed for logistics, e-commerce, and light manufacturing locators,” the company said.
FLI said each unit will also have amenities such as unparalleled accessibility, a build-to-suit option for industrial facilities customization, high-tech communications, and expansive infrastructure such as an eight-meter ceiling clearance, a two-bay loading dock, and three tons-per-square-meter floor load capacity.
The location is only 30 minutes away from Clark International Airport, and 45 minutes away from Subic Bay International Seaport, “making it a key progress catalyst north of Metro Manila,” it said.
Also on Monday, the company said that it had signed a share purchase agreement with Rizal Commercial Banking Corp. to acquire two Cavite-based real estate firms.
In a regulatory filing, the company said it bought Cajel Realty Corp. and Niyog Property Holdings, Inc. from the bank for about P632.66 million.
FLI said it acquired 1.39 million common shares of Niyog at P391.42 apiece totaling about P544.44 million.
Additionally, it purchased 597,376 common shares of Cajel at P148.68 apiece totaling P88.82 million.
The company said both companies have a joint agreement with FLI, which undertook the development of parcels of land into an exclusive residential subdivision.
FLI will pay 30% of the purchase price upon closing and the balance net of retention will be payable in five years plus an agreed interest rate.
On Monday, FLI closed unchanged at P0.67 per share. — Adrian H. Halili
