Filinvest Land, Inc. (FLI) is shutting down a non-operating subsidiary to simplify its corporate structure and focus resources on active developments.

In a disclosure on Monday, FLI said it is closing Filinvest Lifemalls Mimosa Inc. (FLMI), a wholly owned unit that holds no assets, has no business operations, and employs no personnel.

“As we continue to strengthen our organizational structure, it is important that every entity within the Filinvest Land group contributes to our growth objectives,” FLI President and CEO Tristan Las Marias.

“Since FLMI has no assets, operations, or employees, its closure allows us to focus on subsidiaries that are actively driving value and development,” he added.

FLMI has applied to the Securities and Exchange Commission to shorten its corporate term, allowing FLI to streamline its internal structure and keep its corporate entities aligned with long-term strategic and operational priorities.

According to the company, the closure is purely administrative and will not affect any ongoing projects, including developments within the Filinvest Mimosa+ estate.

“This administrative step ensures our resources and structures remain strategically aligned with our long-term growth priorities,” Las Marias added.

The company emphasized that the Mimosa Lifestyle Mall, also known as Filinvest Mall Mimosa, remains on track despite FLMI’s closure. 

The mall is owned, developed, and will be operated by FLI through its subsidiary Filinvest Clark Mimosa Inc. and is currently under construction, with an opening targeted for 2026.

Once completed, the mall will house food and dining outlets, retail shops, and lifestyle and wellness establishments.