Filinvest REIT Corp. (FILRT), the real estate investment arm of the Filinvest Group, is leveraging the increasing presence of multinational tenants in Northgate Cyberzone, a PEZA-accredited business hub in Alabang, Muntinlupa, to sustain its growth trajectory.
In a disclosure to the Philippine Stock Exchange (PSE) on Wednesday, FILRT said efforts to address pre-termination challenges have paved the way for new tenants and attracted global enterprises seeking expansion opportunities.
“Our focus on creating a master-planned, sustainable and strategically located environment has been key to attracting global enterprises,” the company said.
During the first nine months of 2024, FILRT recorded a 13.3 percent increase in new leases compared to the same period in 2023. The company expects further growth as more tenants come on board.
Recent lease expansions highlight the company’s momentum. NASDAQ-listed EXLService Holdings Inc., a New York-based leader in data and artificial intelligence, expanded its lease by 1,750 square meters. New Zealand-based Building Engineering and Design Corp. has secured an additional 1,724 square meters in Filinvest Two.
Meanwhile, GENPACT Services LLC, one of FILRT’s longest-standing tenant partners has expanded its footprint in the iHub 1 Building. The company now occupies over 24,400 square meters across several Northgate Cyberzone buildings, marking its sixth expansion with FILRT.
Adding to FILRT’s roster is Gear Inc., a global BPO company headquartered in Singapore. This marks Gear Inc.’s first permanent office in the Philippines, with a 1,993.10-square-meter lease in the Filinvest One Building.