Filinvest Land booked P4.17B profit in 2024

Filinvest Land Inc.

MANILA, Philippines — Filinvest Land Inc. (FLI) booked an 11-percent increase in its earnings last year to P4.17 billion on higher residential real estate sales and rental revenues.

The Gotianun-led developer disclosed to the stock exchange on Thursday that its revenues increased by 8 percent to P24.45 billion.

“Our residential business remains stable as we continue to deliver housing products that meet the needs of Filipino families for affordability, quality and convenience,” FLI president and CEO Tristan Las Marias said in their disclosure.

FLI, whose residential projects are located mostly outside Metro Manila, said residential real estate revenues rose by 6 percent to P15.39 billion.

READ: FLI secures P12B from latest debt market stop

Reservation sales were steady at P19.4 billion, mostly due to the 75-percent surge in the Visayas.

On the retail side, leasing revenues expanded by 15 percent to P2.54 billion, buoyed by higher occupancy rates. According to FLI, ancillary businesses—parking, amusement and cinemas—likewise contributed “considerable growth.”

Leasing revenues at the office segment had a modest 3-percent growth to P4.81 billion on higher net effective rent and occupied gross leasable area.