Filinvest betting on provincial projects for better years ahead
Gotianun-led Filinvest Land Inc. (FLI) is looking at its upcoming mall launches and provincial developments to buoy its performance in the medium term after posting flat profits in the first semester.
FLI president and CEO Tristan Las Marias said in a statement on Thursday they were “optimistic” that the 2026 openings of Filinvest Malls in Cubao and Mimosa Leisure Estate in Clark “will further drive” its growth momentum.
“At the same time, we continue to push our residential developments in Visayas, Mindanao and non-NCR (National Capital Region) Luzon regions, where we are seeing sustained demand,” Las Marias added.
In the January to June period, FLI’s earnings inched up by 1 percent to P2.12 billion.
Revenues rose by 6 percent to P12.21 billion on stronger leasing, the developer said.
Broken down, real estate sales grew 1.34 percent at P7.5 billion. This, as FLI completed more projects and saw sustained demand for ready-for-occupancy units.
The middle income segment, FLI’s core residential product, accounted for 70 percent of total residential revenues.
Luzon, excluding NCR, contributed 37 percent to total sales while Visayas and Mindanao contributed another 37 percent, FLI noted.
Meanwhile, retail leasing revenues jumped by 11 percent to a record P1.32 billion on the strong performance of Festival Mall, coupled with better occupancy across regional malls. These include the newly opened Filinvest Malls Dumaguete, Il Corso in Cebu, Main Square in Cavite and Fora Mall in Tagaytay.
Office leasing revenues, on the other hand, climbed by 8 percent to P2.48 billion due to FLI’s higher occupied gross leasable area. The latter grew by 11 percent to 398,000 square meters, thus drawing in more office locators.
