Filinvest Land Inc. (FLI) has kicked off the year with impressive growth, announcing a consolidated net income of P1.54 billion for the first half of the year. This 11 percent increase from the previous year reflects the company’s robust performance in the real estate market, driven primarily by a significant rise in residential sales.
According to its website, FLI’s residential segment recorded a 22-percent year-on-year increase in sales, reaching P7.38 billion. This growth is attributed to an aggressive expansion strategy and successful new launches in key locations across the Philippines.
In the first half of the year, Filinvest Land launched 10 new projects, including several new developments and additional phases of existing communities. These new projects, according to the company, has a combined value of P14.7 billion.
Among the latest additions to its portfolio are Celestia in Timberland, San Mateo, Rizal; Building C of Futura East in Cainta, Rizal; and the much-anticipated New Leaf 2 in Trece Martires, Cavite. Other exciting launches include Building A of Sydney Oasis in Bacoor, Cavite and Phase 1A of Futura Rise in Iloilo.
With these new offerings, FLI is now over halfway toward its target of P25 billion in new launches by the end of 2024.
Expanding horizons
FLI’s expansion strategy goes beyond residential projects, with significant strides in establishing a presence in next-wave cities and fast-growing suburbs. Following the success of Iloilo Centrale, an 11.4-hectare township featuring a football pitch in Iloilo, FLI plans to launch more townships, including Palm Estates in Talisay, Negros Occidental, and San Rafael Estates in Bulacan, by the end of the year.
The retail division saw revenues rise nine-percent year-on-year to P1.19 billion, FLI states. Flagship Japanese brands and popular dining spots are set to open in the latter half of 2024 at Festival Mall in Alabang, one of FLI’s largest malls.
Adding to the excitement is the anticipated opening of Filinvest Malls Dumaguete at Marina Town, a 1.9-hectare integrated development in Dumaguete. By 2025, FLI will also unveil a new mall at Filinvest Mimosa+ Leisure City, catering to both local and international customers. These initiatives aim to enhance the shopping experience and expand FLI’s retail footprint in key growth areas.
Above the standards
In the office segment, FLI’s portfolio, including subsidiaries like Filinvest REIT Corp. (FILRT), has remained resilient despite industry challenges. Notably, Filinvest Cyberparks, Inc.’s recent success in leasing over two hectares of office space to the National Bureau of Investigation (NBI) at Filinvest Cyberzone Bay City in Pasay City underscores FLI’s reputation as a trusted partner for both government and private enterprises.
Moreover, Filinvest Land’s achievements have not gone unnoticed. In June, FLI was honored as Developer of the Year at the FIABCI Philippines Property and Real Estate Excellence Awards, cementing its status as a leader in the real estate industry.
Several FLI projects were recognized for their outstanding contributions to sustainability, community development, and innovative design. Among them were Alta Vida in Bulacan, which won a Silver award in the Residential Low-Rise category, and One Oasis Cagayan de Oro (CDO), which received a Gold award in the Residential Mid-Rise Mindanao category.
Meanwhile, Tristan Las Marias, the FLI president, was also recognized with the prestigious Fellow in Real Estate Award for his significant contributions to the field. His leadership has driven FLI’s growth and secured its reputation as a company dedicated to building the Filipino dream.
As Filinvest Land looks to the future, it remains committed to delivering innovative, value-enhancing residential products, along with improved retail and functional leased spaces.