FLI to boost leasing business, allots P50b
Filinvest Land Inc., the property unit of the Gotianun family, plans to spend as much as P50 billion over the next five years to build leasing projects that will boost recurring income.
Filinvest Land president Josephine Gotianun-Yap said in an interview following the annual stockholders’ meeting the company had been focusing on expanding its leasing business by building more office and retail developments.
Filinvest Land plans to build 1 million square meters of total leasable space by 2019 to achieve its target of increasing to 50 percent the share of leasing business to total revenues from the current 40 percent.
The company plans to add 150,000 square meters of leasable shopping mall space in 2017 to end the year with 285,000 sq m.