March 21, 2023

LandBank, Filinvest discuss funding for water and hospitality projects

Filinvest Development Corp. (FDC) is seeking financing from the Land Bank of the Philippines (LandBank) to fund its upcoming projects in the water and hospitality sectors.

The two firms recently met to discuss potential projects, including FDC’s water desalination project in Cebu.

FDC Utilities secured a 25-year bulk water supply deal with Metro Cebu Water District last year, and the desalination plants will use seawater and Hitachi Ltd.’s desalination technology to provide potable water to the cities of Cebu, Lapu-Lapu, and Talisay.

Landbank and FDC also discussed expanding FDC’s hotel operations and its real estate businesses under Filinvest Land Inc.

In 2021, Landbank granted a P2 billion loan to FLI for its expansion programs.

FDC is involved in various sectors such as low-cost and medium-cost housing, commercial and leisure projects, mall and resort hotel operations, banking and financial services, sugar farming, milling, and power generation.