Filinvest Land, Inc. (FLI) has begun turning over residential units at Futura Monte, its four-building condominium development in Naga City, Camarines Sur, the Gotianun-led property developer announced on Wednesday.

The company held the initial turnover for Building A on Nov. 6, with additional units set to be handed over as they meet the project's turnover requirements. Unit turnover is the stage at which a condominium development shifts from construction to occupancy — buyers take possession, and the project begins operating as a lived-in community. In Philippine real estate, delivery performance is a closely watched measure of a developer's execution, which is why handover milestones draw attention from buyers tracking whether projects are moving as committed.

Futura Monte is a mid-rise residential development along Roxas Avenue in Barangay Triangulo, Naga City — one of the main urban centers of the Bicol region, southeast of Manila. It comprises four buildings offering studio, one-bedroom, and two-bedroom units that range from 22 to 32 square meters, a compact size range characteristic of projects that lean on shared amenities and open space to round out the living environment.

“This milestone reflects our commitment to delivering homes where families can build their future and enjoy the opportunities that come with a well-connected community. We look forward to welcoming more homeowners to Futura Monte as we continue to bring the development to life,” FLI Regional General Manager for Central Luzon Gerard C. Marcelo said in a statement.

Construction of Building B, meanwhile, was 79% complete, according to the company — a progress marker for the portion of the development still to be delivered. Building B's completion, together with the pace of subsequent turnovers, will be the checkpoints to watch as Futura Monte works toward full build-out.

The development allocates 60% of its total land area to open spaces and landscaped areas, FLI said. By year-end, the project is expected to feature a two-story clubhouse, swimming pools, a function hall, and other shared facilities. Once in place, those shared amenities form the day-to-day environment serving residents of the units already handed over.

FLI is the property development arm of listed conglomerate Filinvest Development Corp.

Source: BusinessWorld Online | Reporting: Juliana Chloe A. Gonzales