Filinvest Development Corp.: 70 years of empowering Filipino dreams

Every meaningful legacy begins with a vision. For Filinvest Development Corp. (FDC), now celebrating 70 years in business, that vision took root in the quiet resolve of a young couple who then sought to empower more Filipinos with opportunities to enhance their lives.

Filinvest continues to help fuel progress in areas where it is present.

In 1955, Andrew and Mercedes Gotianun founded a modest, second-hand car financing business from a small shophouse in Quiapo, Manila. Little did they know that their shared entrepreneurial spirit would grow into one of the Philippines’ most respected conglomerates—one that would shape businesses, communities and lives across generations.

“My father didn’t have a college degree, but he always had a vision. My mother, on the other hand, was a tireless implementor—she took care of the execution of my father’s ideas. Together, they built something greater than themselves,” recalled Josephine Gotianun-Yap, vice chairperson of the Filinvest Group.

Filinvest Development Corp. vice chair Josephine Gotianun-Yap and Filinvest Development Corp. chairman Jonathan T. Gotianun

Indeed, the Gotianuns’ pioneering spirit laid the foundation for Filinvest Group’s expansion into a powerhouse, spanning real estate, banking, power, hospitality, sugar, and infrastructure.

From vision to legacy

Filinvest’s journey into real estate began in 1966 with Filinvest Realty Corp., pioneering affordable subdivisions in Marikina and Cebu to help thousands of Filipinos secure their first homes. This expansion gained momentum in the decades that followed—Filinvest Land Inc. (FLI) was established in 1989, went public in 1993, and soon transformed urban landscapes with thriving communities and modern office spaces. That same year, Filinvest Alabang Inc. launched Filinvest City, now a dynamic, sustainable hub of progress.

Andrew and Mercedes Gotianun established a second-hand car financing company in 1955, Kustom Motors Inc., later renamed Filipinas Investment and Finance Corp.

Building on this foundation, Filinvest ventured into finance with the creation of EastWest Bank in 1994, empowering middle-income Filipinos and businesses with accessible financial services. The bank later went public in 2012, reinforcing its role in driving economic mobility.

In 2009, FDC established a power company, FDC Utilities, Inc. (FDCUI), to help address the energy demands in Mindanao.

Diversification continued, strengthening Filinvest’s presence across industries. The group sustained local agricultural communities with the launch of Pacific Sugar Holdings in 2007. It addressed Mindanao’s energy needs through FDC Utilities Inc. (FDCUI) in 2009 and later partnered with global energy leader Engie in 2018 to advance sustainable power solutions.

City di Mare in Cebu City is a masterplanned community that fosters a complete modern live-work-play lifestyle cradled by nature.

In hospitality, Filinvest introduced Crimson Resort and Spa Mactan in 2010, followed by Quest Hotel Cebu in 2012. The business accelerated in 2016 with the acquisition of Mimosa Plus Leisure City, reinforcing Filinvest’s commitment to Philippine tourism. Infrastructure became another major focus, with Filinvest playing a key role in the LIPAD consortium, which has operated Clark International Airport since 2019. By 2021, Filinvest REIT was launched as the country’s first sustainability-themed real estate investment trust, championing transparency and responsible investing.

Filinvest acquired property rights to Mimosa Plus Leisure City in Clark in 2016.

With a strategic balance of business investments, Filinvest has built a stable, future-ready portfolio. From financing second-hand cars to shaping industries, the group continues to adapt, innovate, and lead.

Guided by Core Values

And it continues to do so to this day—with second generation leaders ensuring that the fundamental values of trust, integrity, and respect instilled by their parents are still upheld across the group amid their expansion.

A sketch of the first office of Filinvest Development Corporation (FDC) at P. Casal, Quiapo, marking the humble beginnings of the Gotianuns.

“Our parents taught us to treat everyone with equal respect and fairness,” said Gotianun-Yap. “A business built on genuine trust creates opportunities for all, enriching both the company and the community.”

Gotianun-Yap also ensured that meritocracy and inclusivity are observed—with a strong emphasis on choosing the best talent based on capability, and not on connections nor gender.

Resilient, sustainable conglomerate

FDC became the leading consortium member of LIPAD which operates Clark International Airport in 2019.

It would be these strategic expansions and values, which are firmly ingrained in the organization, that have helped build the resiliency and sustainability of the Filinvest Group. Over the last seven decades, the conglomerate weathered some of the toughest economic storms, the most recent of which was the pandemic. Fortunately, the group was well-diversified and had a strong financial foundation, enabling it to mitigate risks and sustain operations despite economic uncertainty. This thus allowed the Filinvest Group to take a more proactive role in supporting the country during the pandemic.

FDC ventured outside real estate and incorporated East West Banking Corp., which catered to middle market corporations and mass affluent.

Gotianun-Yap was personally involved in daily meetings with the national task force, ensuring that FDC contributed to quarantine centers, testing kits, and other critical pandemic response efforts. Such strength remains evident today in the company’s financial performance. In the first nine months of 2024, the Filinvest Group posted a record high profit of P9.5 billion, driven primarily by real estate, banking, and power.

Meaningful contributions

As FDC celebrates its 70th year, it honors not only the group’s remarkable achievements but also the daily realities of Filipino lives it has positively influenced—families owning homes for the first time, entrepreneurs gaining financial support, communities receiving reliable power, and travelers experiencing genuine Filipino hospitality.

In 2007, Filinvest Development Corp. entered into the sugar industry.

“As we celebrate Filinvest’s 70th anniversary, we reflect on our responsibility to build businesses that don’t merely succeed financially but uplift Filipino families. Sustained profitability for us means inclusive growth for our stakeholders and our nation,” Gotianun-Yap said.

This, ultimately, is the legacy of FDC—one defined not just by corporate milestones, but also by their real and meaningful contributions to progress and nation-building. With this noble purpose deeply embedded in its foundation, FDC is undoubtedly poised to build an even brighter future ahead for Filipinos and the country.

ADVT.

This article is brought to you by Filinvest Development Corp.