FPHC pins growth hopes on energy, real estate units

Lopez-led First Philippine Holdings Corp. is banking on its energy and real estate units to boost earnings growth this year given these segments’ continued solid performance and aggressive expansion plans.

FPH energy firms First Gen Corp. and Energy Development Corp. are embarking on at least $3.15 billion (or roughly P129 billion) worth of natural gas, hydro and wind power projects over the next six years, FPH chief finance officer Francis Giles B. Puno said in a briefing yesterday.

Meanwhile, Rockwell Land Corp., the real estate arm of FPH, was said to have strengthened its leadership in the high-end residential segment with the strong sales of 205 Santolan, its first townhouse development, and The Proscenium, a 3.6-hectare mixed use development.