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Filinvest Land turns MSME business park in Gen. Trias, Cavite into socialized housing 


Filinvest Land Inc. is converting its business park project in General Trias, Cavite to a socialized and affordable housing development after it asked the Board of Investments (BOI) to revoke its original certificate.
 
In a disclosure to the Philippine Stock Exchange, Filinvest said the BOI cancelled its certificate of registration No. 2007-035 to develop a business park for micro, small and medium enterprises (MSME) in Asenso Village in General Trias, Cavite.
 
The certificate issued by the BOI on March 7, 2007 was cancelled on July 15, 2014, the firm said.
 
Filinvest asked that the original certificate be cancelled, because prospective buyers did not receive the project in an "optimistic" manner, the disclosure read.
 
Launched in 2007, Filinvest said the 581 lots that were offered in Asenso Village generated merely 18 interested buyers.
 
The 22-hectare Asenso Village was supposed to provide a home/work place for small entrepreneurs.
 
"It is for this reason that FLI decided to amend the land use of the project from a MSME Business Park to a mix of socialized housing and affordable housing project..." the disclosure read. – Danessa O. Rivera/VS, GMA News