Filinvest Land Inc. (FLI), the property developer owned by the Gotianun family, booked higher earnings in the first half, buoyed by expanding recurring income streams and supported by the company’s diversified portfolio.
FLI saw its net income improve by four percent year-on-year to P2.21 billion in the first semester, overcoming industry headwinds for the second straight quarter.
Revenues grew by 2.9 percent to P12.57 billion on the back of solid gains across both property sales and rental operations.
FLI said the company’s commercial and industrial leasing businesses continued to serve as powerful pillars of stability during the period.
Leasing revenues of the retail mall business rose by 12 percent to P1.47 billion as targeted asset enhancement initiatives and healthy tenant engagement lifted mall occupancy to 81 percent.
Office leasing revenues expanded by 2.4 percent to P2.54 billion, supported by a 100-percent renewal rate for all second quarter lease expiries.
FLI said the industrial segment also continued to capture robust demand, particularly through the 33-hectare mega lots at the Filinvest Innovation Park – New Clark City, as corporate occupiers aggressively secure strategic logistics and manufacturing hubs.
‘Our leasing and recurring income businesses continue to provide stability and resilience, giving us a balanced platform for growth. As market conditions evolve, we remain focused on execution, capital efficiency and capturing demand across our residential, commercial and industrial segments,’ FLI president and CEO Tristan Las Marias said.
Las Marias said FLI’s first half results demonstrate the company’s ability to translate demand into earnings through a disciplined and diversified business model.
FLI reported a remarkable rebound in sales activity during the period, with total reservation sales surging by 50 percent year-on-year to P12.5 billion.
It said momentum culminated in June, hitting P3.7 billion, the company’s highest monthly reservation level since 2018.
The growth was attributed primarily to strong ready-for-occupancy (RFO) sales, which totaled P6.8 billion in the first half.
Las Marias said the strong pickup in reservation sales, particularly in RFO, reflects both improving buyer activity and the strength of FLI’s product offering across key markets.