November 18, 2017, 3:08 am
Facebook iconTwitter iconYouTube iconGoogle+ icon
1 Philippine Peso = 0.07227 UAE Dirham
1 Philippine Peso = 2.22452 Albanian Lek
1 Philippine Peso = 0.03503 Neth Antilles Guilder
1 Philippine Peso = 0.34355 Argentine Peso
1 Philippine Peso = 0.02607 Australian Dollar
1 Philippine Peso = 0.03503 Aruba Florin
1 Philippine Peso = 0.03935 Barbados Dollar
1 Philippine Peso = 1.64187 Bangladesh Taka
1 Philippine Peso = 0.0327 Bulgarian Lev
1 Philippine Peso = 0.00742 Bahraini Dinar
1 Philippine Peso = 34.29713 Burundi Franc
1 Philippine Peso = 0.01968 Bermuda Dollar
1 Philippine Peso = 0.02667 Brunei Dollar
1 Philippine Peso = 0.13499 Bolivian Boliviano
1 Philippine Peso = 0.0645 Brazilian Real
1 Philippine Peso = 0.01968 Bahamian Dollar
1 Philippine Peso = 1.28247 Bhutan Ngultrum
1 Philippine Peso = 0.20681 Botswana Pula
1 Philippine Peso = 393.93939 Belarus Ruble
1 Philippine Peso = 0.03931 Belize Dollar
1 Philippine Peso = 0.02511 Canadian Dollar
1 Philippine Peso = 0.01951 Swiss Franc
1 Philippine Peso = 12.40988 Chilean Peso
1 Philippine Peso = 0.13051 Chinese Yuan
1 Philippine Peso = 59.13813 Colombian Peso
1 Philippine Peso = 11.08422 Costa Rica Colon
1 Philippine Peso = 0.01968 Cuban Peso
1 Philippine Peso = 1.83943 Cape Verde Escudo
1 Philippine Peso = 0.42677 Czech Koruna
1 Philippine Peso = 3.47954 Djibouti Franc
1 Philippine Peso = 0.12411 Danish Krone
1 Philippine Peso = 0.94451 Dominican Peso
1 Philippine Peso = 2.25075 Algerian Dinar
1 Philippine Peso = 0.2609 Estonian Kroon
1 Philippine Peso = 0.34652 Egyptian Pound
1 Philippine Peso = 0.53227 Ethiopian Birr
1 Philippine Peso = 0.01667 Euro
1 Philippine Peso = 0.04117 Fiji Dollar
1 Philippine Peso = 0.0149 Falkland Islands Pound
1 Philippine Peso = 0.01491 British Pound
1 Philippine Peso = 0.0895 Ghanaian Cedi
1 Philippine Peso = 0.92483 Gambian Dalasi
1 Philippine Peso = 177.2137 Guinea Franc
1 Philippine Peso = 0.14447 Guatemala Quetzal
1 Philippine Peso = 4.05313 Guyana Dollar
1 Philippine Peso = 0.15372 Hong Kong Dollar
1 Philippine Peso = 0.46232 Honduras Lempira
1 Philippine Peso = 0.12613 Croatian Kuna
1 Philippine Peso = 1.21291 Haiti Gourde
1 Philippine Peso = 5.19481 Hungarian Forint
1 Philippine Peso = 266.09603 Indonesian Rupiah
1 Philippine Peso = 0.06915 Israeli Shekel
1 Philippine Peso = 1.27847 Indian Rupee
1 Philippine Peso = 22.9634 Iraqi Dinar
1 Philippine Peso = 693.36875 Iran Rial
1 Philippine Peso = 2.02755 Iceland Krona
1 Philippine Peso = 2.47068 Jamaican Dollar
1 Philippine Peso = 0.01392 Jordanian Dinar
1 Philippine Peso = 2.21558 Japanese Yen
1 Philippine Peso = 2.03994 Kenyan Shilling
1 Philippine Peso = 1.37194 Kyrgyzstan Som
1 Philippine Peso = 79.10272 Cambodia Riel
1 Philippine Peso = 8.33333 Comoros Franc
1 Philippine Peso = 17.70956 North Korean Won
1 Philippine Peso = 21.5429 Korean Won
1 Philippine Peso = 0.00594 Kuwaiti Dinar
1 Philippine Peso = 0.01614 Cayman Islands Dollar
1 Philippine Peso = 6.52952 Kazakhstan Tenge
1 Philippine Peso = 163.2625 Lao Kip
1 Philippine Peso = 29.73239 Lebanese Pound
1 Philippine Peso = 3.02145 Sri Lanka Rupee
1 Philippine Peso = 2.44392 Liberian Dollar
1 Philippine Peso = 0.27873 Lesotho Loti
1 Philippine Peso = 0.05999 Lithuanian Lita
1 Philippine Peso = 0.01221 Latvian Lat
1 Philippine Peso = 0.02676 Libyan Dinar
1 Philippine Peso = 0.18535 Moroccan Dirham
1 Philippine Peso = 0.34406 Moldovan Leu
1 Philippine Peso = 1.02145 Macedonian Denar
1 Philippine Peso = 26.82015 Myanmar Kyat
1 Philippine Peso = 48.01181 Mongolian Tugrik
1 Philippine Peso = 0.15831 Macau Pataca
1 Philippine Peso = 6.91558 Mauritania Ougulya
1 Philippine Peso = 0.66706 Mauritius Rupee
1 Philippine Peso = 0.30638 Maldives Rufiyaa
1 Philippine Peso = 14.09681 Malawi Kwacha
1 Philippine Peso = 0.37473 Mexican Peso
1 Philippine Peso = 0.08186 Malaysian Ringgit
1 Philippine Peso = 0.27564 Namibian Dollar
1 Philippine Peso = 7.02479 Nigerian Naira
1 Philippine Peso = 0.60232 Nicaragua Cordoba
1 Philippine Peso = 0.16201 Norwegian Krone
1 Philippine Peso = 2.03758 Nepalese Rupee
1 Philippine Peso = 0.02897 New Zealand Dollar
1 Philippine Peso = 0.00757 Omani Rial
1 Philippine Peso = 0.01968 Panama Balboa
1 Philippine Peso = 0.06374 Peruvian Nuevo Sol
1 Philippine Peso = 0.06312 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.07261 Pakistani Rupee
1 Philippine Peso = 0.07062 Polish Zloty
1 Philippine Peso = 111.06651 Paraguayan Guarani
1 Philippine Peso = 0.07477 Qatar Rial
1 Philippine Peso = 0.07746 Romanian New Leu
1 Philippine Peso = 1.16854 Russian Rouble
1 Philippine Peso = 16.37721 Rwanda Franc
1 Philippine Peso = 0.07379 Saudi Arabian Riyal
1 Philippine Peso = 0.15368 Solomon Islands Dollar
1 Philippine Peso = 0.26269 Seychelles Rupee
1 Philippine Peso = 0.13104 Sudanese Pound
1 Philippine Peso = 0.16586 Swedish Krona
1 Philippine Peso = 0.02669 Singapore Dollar
1 Philippine Peso = 0.01491 St Helena Pound
1 Philippine Peso = 0.43695 Slovak Koruna
1 Philippine Peso = 149.94097 Sierra Leone Leone
1 Philippine Peso = 10.99961 Somali Shilling
1 Philippine Peso = 408.72688 Sao Tome Dobra
1 Philippine Peso = 0.17218 El Salvador Colon
1 Philippine Peso = 10.13341 Syrian Pound
1 Philippine Peso = 0.2756 Swaziland Lilageni
1 Philippine Peso = 0.64542 Thai Baht
1 Philippine Peso = 0.04872 Tunisian Dinar
1 Philippine Peso = 0.04538 Tongan paʻanga
1 Philippine Peso = 0.07647 Turkish Lira
1 Philippine Peso = 0.13045 Trinidad Tobago Dollar
1 Philippine Peso = 0.59144 Taiwan Dollar
1 Philippine Peso = 43.97875 Tanzanian Shilling
1 Philippine Peso = 0.52076 Ukraine Hryvnia
1 Philippine Peso = 71.36954 Ugandan Shilling
1 Philippine Peso = 0.01968 United States Dollar
1 Philippine Peso = 0.57989 Uruguayan New Peso
1 Philippine Peso = 158.20543 Uzbekistan Sum
1 Philippine Peso = 0.19628 Venezuelan Bolivar
1 Philippine Peso = 446.89099 Vietnam Dong
1 Philippine Peso = 2.12515 Vanuatu Vatu
1 Philippine Peso = 0.05043 Samoa Tala
1 Philippine Peso = 10.9329 CFA Franc (BEAC)
1 Philippine Peso = 0.05313 East Caribbean Dollar
1 Philippine Peso = 10.93861 CFA Franc (BCEAO)
1 Philippine Peso = 1.9754 Pacific Franc
1 Philippine Peso = 4.91834 Yemen Riyal
1 Philippine Peso = 0.27568 South African Rand
1 Philippine Peso = 102.11531 Zambian Kwacha
1 Philippine Peso = 7.12121 Zimbabwe dollar

Rentals lift FLI revenues in ’16

Filinvest Land Inc. (FLI) said profit last year reached P5.35 billion, up 4.9 percent from P5.1 billion in 2015.

Consolidated revenues hit  P19.5 billion, up 7 percent compared to the prior year’s P18.3 billion. 

“One of the largest sources of revenue growth was achieved by rental revenues of P3.38 billion for the full year 2016, 15 percent higher than P2.95 billion in 2015 as the firm booked increased revenues from its office buildings,” the company said.

Rental income accounts for 40 percent of total profit.  FLI completed three new buildings in the last quarter of 2015 that started to generate revenues in 2016. 

 In 2016, the company completed two new buildings, Filinvest Cyberzone Bay City 1 and  2 in the Bay area, with 37,000 square meters of gross leasable area (GLA) which have been fully leased out.

FLI operates 21 office buildings with a gross leasable area (GLA) of 312,000 square meters (sq.m.). 

FLI said it is also growing its retail rental space portfolio. opening  Main Square Community Mal  in Molino, Cavite which added 28,000 sq.m. to its portfolio. 

Another mall, the Fora Mall in Tagaytay which will have 48,000 square meters of mall space, is scheduled to open by April.  

“FLI is on track to hit its 1 million target of office and retail GLA by 2019 and a 50-50 income mix between its rental and trading businesses,” the company said.

For residential, FLI said it continues to launch projects that address the needs of the affordable and middle income markets, which remain to be underserved. More than 70 percent of the company’s product offerings are house-and-lots and mid-rise buildings (MRB). 

The company said it plans to sink an additional P5 billion in the next three years in Mindanao as it expands its Futura Homes economic housing and Spatial MRB affordable condominium portfolios with new projects in South Cotabato and Davao City. 

“FLI also launched residential projects in Metro Manila, Cavite, Rizal, Bulacan, Bacolod, Iloilo and other key locations last year. To date, FLI has developed more than 2,500 hectares of land and sold more than 160,000 housing units,” it said. 

“Our plan to triple our recurring income portfolio is beginning to bear fruit as the rental business now provides substantial revenues for the company and mitigates the risks of a cyclical residential market. Our diversification strategy of having three main lines of business: residential sales, office rental and retail rental has put us in the best position to achieve synergies brought by integrated developments, as we develop townships where all three businesses can complement each other in one location.  We are looking forward to FLI’s continued growth,” said Josephine Gotianun Yap, FLI president.

FLI, together with parent company Filinvest Development Corp. (FDC) have signed a lease agreement with Clark Development Corp. to develop, manage and operate the 200-hectare Clark Mimosa estate for a term of 50 years, renewable for another 25 years.  

Last year, FLI also signed a joint venture agreement with the Bases Conversion and Development Authority (BCDA) for the development of the 288-hectare Phase 1 portion of the landmark Clark Green City portion in Tarlac, after it won the bidding for the project. 
Category: 
Rating: 
No votes yet

Column of the Day

Thumbs up and down at Asean

By JOSE BAYANI BAYLON | November 17,2017
‘This is the issue of the general public’s grasp of what it means for our country to be part of a greater, regional association of nations.’

Opinion of the Day

Onward: Planned Parenthood; Human Rights summit

By DAHLI ASPILLERA | November 17, 2017
‘Congratulations to the country’s PNP, AFP and all law enforcers, for a productive, uninterrupted, impressive Asean Summit. Great talents had put together a successful show.’