Filinvest Development Corp. earmarked P21.2 billion in capital expenditures for 2021 to pursue new ventures, including eco-sustainable space, and fund the expansion of the property business, a top executive said Friday.
FDC president and chief executive Lourdes Josephine Gotianun-Yap said during a virtual annual stockholders’ meeting the group’s recovery strategy was to build scale and leverage on strong foundation.
“It is worth noting that times of crisis are also times of opportunity for strong, forward thinking companies. We know fully well that the path to recovery will be challenging and volatile, but we are also convinced that we have the right elements in place to come out stronger as we move forward in anticipation of the future,” Gotianun-Yap said.
The company said to implement the strategy, it was actively looking for new areas of growth. It is also keen on building an eco-sustainable platform via joint venture partnerships with international firms.
The group is looking to develop sustainable cities and communities within its projects, while also focusing on expanding recurring income base to include logistics warehouses and co-working and co-living products.
“Filinvest is aligning its investments and sustainability commitments with the United Nations Sustainable Development Goals. Its current initiatives and partnerships already have business models that give special focus on priority goals. FDC is harnessing synergies even more to consequently raise its socio-economic impacts,” Gotianun-Yap said.
The conglomerate teamed up with Engie Services for the operation of the Philippines’ largest district cooling system in Northgate Cyberzone in Filinvest City which provides air-conditioning using 40 percent less energy, thus reducing carbon emissions.
Another joint venture is the Filinvest-Engie Renewable Energy Enterprise Inc. which has three contracts for a total of 5.4 megawatts of solar rooftop systems and pursues 56 megawatts of renewable power projects.
FDC also entered the sustainable water space with Japanese company Hitachi Aqua-Tech Engineering.