FILRT diversifies tenant base in Alabang hub
Filinvest REIT Corp. (FILRT) is broadening its tenant base beyond business process outsourcing (BPO) companies and corporate offices with an international school leasing space at Northgate Cyberzone in Alabang, Muntinlupa City.
On Monday, the real estate investment trust backed by Filinvest Land Inc. said MIT International School (MITIS) had secured nearly 900 square meters (sq m) of ground-floor space at its iHub 2 building.
Established in 2007, the American-curriculum K-12 institution, is relocating from Alabang-Zapote Road. It will become Northgate Cyberzone’s first international school.
The lease supports FILRT’s strategy of bringing long-term institutional tenants into its office developments and expanding the district’s tenant mix.
“As we continue to strengthen our office portfolio, we also see opportunities to welcome complementary institutions that contribute to a more dynamic and well-rounded community,” said Maricel Brion-Lirio, outgoing president and CEO of FILRT.
Still accessible
MITIS president Dae Kwan Chung said the relocation would support the school’s growth while keeping it accessible to families across southern Metro Manila.
“FILRT’s Northgate Cyberzone offers the exact blend of modern infrastructure, accessibility and security we envisioned,” Chung said.
The Philippine Economic Zone Authority-accredited district offers Grade A building infrastructure, round-the-clock security, pedestrian walkways and a green eshuttle network.
FILRT said the school would serve families residing in the cities of Muntinlupa, Las Piñas, Parañaque and nearby communities along the South Luzon corridor.
In a separate disclosure, FILRT said its board approved on Monday Brion-Lirio’s retirement as president and CEO and her resignation as director.
Company chair Joseph M. Yap was given the additional responsibility as the new president and CEO.
Treasurer and chief financial officer Ana Venus A. Mejia was appointed director to fill the vacancy.
Yap, who has chaired FILRT since April 2024, will cease to be a member of its Audit and Risk Management Oversight Committee following his new appointment.
FILRT’s office portfolio comprises 17 Grade A buildings with more than 300,000 sq m of gross leasable area.
Of these, 16 are in Northgate Cyberzone, while the remaining building is in Filinvest Cyberzone Cebu Tower 1 in Cebu City.
Its other assets include the 121,862-sq-m Festival Main Mall in Filinvest City—also in Alabang—and 2.9 hectares of land leased to the owner and operator of Crimson Resort & Spa Boracay.
