Filinvest Land, Inc. (FLI), one of the country’s largest real estate developers, recorded a 15% growth in residential revenues in 2021 of Php 11.27 billion driven by continued construction progress and high reservation sales. Reservation sales in 2021 reached Php16.04 billion, a growth of 5% compared to 2020. Filinvest Land launched P6.7 billion worth of residential projects around the country including Metro Manila, Pampanga, Cagayan de Oro and Davao. The developer also entered Dagupan, Pangasinan last year. Net income attributable to equity holders of the parent reached Php 3.80 billion in 2021, up 2% compared to 2020.
“We are happy with the results of our digital transformation that made our business more accessible to sales network and clients here and abroad. As we accelerate our construction pace and execute faster on our expansion plans, we expect to sustain our growth momentum throughout 2022 and beyond,” said Tristan Las Marias, FLI Chief Strategy Officer and Residential Business Head.
FLI was included in the newly launched PSE MidCap Index on March 28, 2022. The index is designed to capture the performance of mid-sized companies of the Philippine market. The constituents are selected based on market capitalization, liquidity, financial and free float.
FLI was recognized by BCI Asia as one of the Top 10 Developers in the country while Dot Property hailed the company as the Best Developer in North Luzon and Mindanao. Josephine Gotianun Yap, President and CEO of Filinvest Land, was Asia CEO’s Global Executive of the Year Circle of Excellence awardee. The multi-awarded developer also received proceeds of Php 12.58 billion from the successful initial public offering (IPO) of Filinvest REIT Corp. (FILRT), a sustainability-themed REIT. The proceeds of the IPO will be used to finance Filinvest Land’s office, industrial, retail, and residential projects as specified in its Reinvestment Plan. Filinvest Land also successfully raised P10 billion from a bond issuance in December 2021.
“We are honored to have been recognized by reputable organizations as a leading property developer here in the Philippines. We see this as testaments to our steadfast commitment towards nation building. We are also grateful for the trust of the investor market in Filinvest Land. This allowed us to undertake successful fundraising activities in the past year. These funds will allow us to accelerate the implementation of our expansion plans and continue building the Filipino dream,” said Gotianun Yap.
