Filinvest Land Inc., the real estate unit of the Gotianun Group, allotted P16 billion for capital expenditures this year after revising its project line up due to the new coronavirus (COVID-19) pandemic.
Filinvest Land president and chief executive Josephine Gotianun-Yap said the company decided to move some of project launches scheduled in the second half of the year to 2021.
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“We are satisfied with our 2019 performance as both our residential sales and recurring income businesses reflected growth. The first quarter of 2020 has been challenging for our country with notable calamities such as earthquakes in Mindanao, the Taal Volcano eruption and most specially the global health crisis that is COVID-19,” Yap said.
