Phinma raises 2025 capex to around P5B

INQUIRER PLUS GRAPHICS

Conglomerate Phinma Corp. has increased its capital spending target for the year as it readies the launch of its new real estate projects, particularly those in the socialized housing segment.

Phinma chief financial officer EJ Qua Hiansen recently told reporters they expected to spend close to P5 billion this year, up from their initial target of P3.8 billion.

Pipeline projects include the Davao and Bacolod socialized housing projects that will break ground in the fourth quarter of this year and the first half of 2026, respectively.

Phinma has so far invested P250 million in the two housing projects. The Davao project is set to have around 800 units, while the Bacolod project will have “a little bit less,” according to Hiansen.

“We’ll see how those first two do before we look at putting in more, but it’s something we think we want to do in a very big way,” the CFO said.

The company recently formed Phinma Community Housing Corp. specifically for its entry into the new category.

Apart from these projects, the Saludad township in Bacolod City, the Davao terminal for Philcement Corp. and its insulated panel factory in Porac, Pampanga province, were among the reasons behind the capital hike.

According to him, these projects “are actually looking well, the indications are strong.”

“We like the Bacolod market. The sales pickup has been good,” Hiansen said of the township project.

Meanwhile, the P700-million insulated panel factory of Union Insulated Panel Corp. (UIPC) is on track to start commercial operations next year.

UIPC broke ground for the project in May last year. It is slated to have a yearly production capacity of 1 million square meters of panels, which will be used mainly for cold chain facilities.

Phinma’s net loss in the first six months of the year skyrocketed to P455.06 million from P22.1 million in the same period last year as it endured pressures from a challenging macroeconomic environment and “seasonal factors.”

To swing back to profitability, Phinma said they would “develop new markets,” including socialized housing and insulated panels.