Golf Course and Leisure Related Development

FEGDI, another wholly owned subsidiary of the Company, was established in March 1990 originally to plan and implement the Southwoods project, an approximately 450-hectare residential, commercial, entertainment, and golf course development in Carmona, Cavite and Biñan, Laguna. In addition to the Southwoods project, FEGDI will specifically undertake the development of all future Fil-Estate golf course, retail, entertainment and leisure related projects in various areas of the Philippines.