Filinvest Land, Inc. , one of the country’s largest real estate developers, reported Php 4.31 billion in revenues and other income for the first quarter of 2022. It posted Php 2.69 billion of residential revenues which is a 9% growth compared to the same period last year. The growth in residential revenues was due to continued construction progress and high reservation sales. Net income attributable to equity holders of the parent amounted to Php 678 million.
“We are pleased with the continued growth of our residential revenues, and we expect to sustain this momentum as the economy, both here and abroad, continues to open. Our OFWs are starting to gain traction once again. We plan to further boost our international sales network and improve our digital and online platforms to reach out to more OFW markets abroad. FLI will continue accelerating construction completions and rolling out projects in emerging markets with large unserved housing demand.
According to FLI CEO Josephine Gotianun Yap, the funds generated from the proposed bond issue would be used to support the company’s capital expenditures and service debt repayments within 2022. FLI aims to expand its leasing business to reach 2.1 million square meters of GLA in 2026 and is ready to launch Php30 billion residential projects. “We are grateful for this development as we reach our growth targets for our leasing and residential businesses,” Gotianun Yap said.