Filinvest Land, Inc. (FLI), the property arm of the Gotianun family, reported a consolidated net income of P1.06 billion for the first quarter of 2025, an 8 percent increase from the P982.14 million recorded in the same period last year.
The company attributed the growth primarily to its leasing and residential operations.
Total revenues and other income rose by 11.87 percent to P6.04 billion from P5.40 billion in 2024, driven by higher contributions from residential sales and office leasing.
Real estate sales increased by 8.73 percent to P3.70 billion, supported by faster collections and increased construction progress.
Sales from the middle-income market, which includes medium-rise and high-rise buildings, accounted for 79 percent of real estate sales.
The affordable and low-affordable segments contributed 13 percent, high-end and other segments 5 percent, and socialized housing projects 3 percent.Rental and related services saw a 17.04 percent increase to P2.06 billion.
Office leasing grew by 17.28 percent due to improved occupancy rates and higher rental rates. Retail leasing contributed P28.31 million, while the co-living segment contributed P27.06 million, a 54.12 percent increase from the previous year.
On the other hand, costs and expenses slightly rose by 0.5 percent to P1.74 billion, mainly due to depreciation and operating expenses from expanded leasing operations.
FLI successfully raised P12 billion through the issuance of fixed-rate bonds in March.
The proceeds from this fundraising activity will be used to partially finance the expansion of its retail business and ready-built factories.
The bonds represent the second tranche of FLI’s P35 billion bond shelf-registered program approved by the Securities and Exchange Commission in 2023.The property firm currently holds a land bank of 1,667 hectares, along with an additional 196.5 hectares under joint venture arrangements and 489.6 hectares under joint development or long-term leasing agreements.