The investments of Filinvest Land Incorporated (FLI) in Davao City is estimated to reach P6 billion next year when it starts to work on the P1.5 billion “One Oasis Davao City” early 2008. Tristan Las Marias, FLI vice president for Visayas and Mindanao in a press briefing on Wednesday at the Marco Polo Hotel said One Oasis Davao City is another pioneering residential development project of the biggest full range property developer in the country. It will be located in a 2.3 hectare lot beside SM City Davao.

Filinvest owned by the Gotianun (Andrew and Mercedes) who startedwith P300,000 for a business capital and now with a net worth of $860 million, was named by Forbes Magazine as the 7th richest people of the Philippines of 40 rich individuals.

He said the other residential projects in Davao are Le Jardin, Fuente de Villa Abrille, Villa Mercedita, Orange Grove and Kembali Coast.

Meanwhile he said One Oasis is a cluster of medium rise residential building (MRB) development commonly called as “Walk up Condominium Units located on a 2.3 hectares property within the heart of the city at Ecoland West Drive beside SM City Davao.

He said the project was created not only because many people placed inquiries if FLI will put up a medium rise residential units but also because the city is already ready for the concept.

The project he said is made up of seven medium rise buildings to be developed over a three to four year time-frame.

Each building he said will be 5 stories, each floor will have two bedroom units, one bedroom units, and studio units. There will be a total of 120 residential condominium units per building for a total of 850 residential condominium units for the entire buildings/cluster.

Las Marias said One Oasis Davao City is part of the One Oasis Brand of Filinvest Land which also includes similar One Oasis projects in Ortigas, and Cainta in Metro Manila.

The project in Davao City is an Asian-Tropical inspired community. It is near offices, schools, churches, health clinics, commercial establishments and accessible to public transport along Quimpo Boulevard.

He said it is fully secured community with guarded access gates with first class amenities such as clubhouse, gardens, parks/children playground and swimming pool.

The first phase of development will consist of four walk-up residential condominium buildings, each building having 5 levels with basement and rooftop. All units will have an assigned laundry area located at the roof-deck level of the building.

There will be two stairways located at both ends of the building and one unit elevator at one end of the building for the use of the entire building residents. Parking slots at the ground level and storage areas are located at the basement are available for sale.

With very affordable monthly amortization that ranges from P12,000 to P15,000 depending on the type of the unit Las Marias said they will only utilize 35 percent of the area for building sites and the rest will be open spaces for parks, playground and swimming pool for the children to uncover.

He said they target to do the ground breaking in March 2008 and project construction to run for 8 to 12 months.