With a buoyant outlook fueled by its robust financial performance in 2023, Filinvest Land Inc. (FLI) announced a cash dividend of P0.05 per common share, reflecting a 32 percent dividend payout ratio, the highest since 2014.
This announcement came during FLI’s recent annual stockholders’ meeting, where the company also outlined its medium-term expansion plans. These plans include an intensified focus on developing tailored communities and affordable housing solutions, alongside strengthening its commercial and industrial leasing endeavors.
FLI president and chief executive officer Tristan Las Marias emphasized, “This underscores our commitment to creating value and delivering sustainable returns for our shareholders as we drive growth and progress in the real estate sector.”
Las Marias further disclosed FLI’s intention to launch residential projects worth P25 billion in 2024, predominantly consisting of mid-rise buildings and landed housing. He added, “We will persist in offering value-for-money residential developments within well-planned townships, aligning with our core mission of realizing the Filipino dream.”
To meet the growing demand for modern living spaces, FLI plans to continue developing mid-rise buildings, reinforcing its dedication to providing value-for-money and future-ready homes.
In 2023, FLI launched 11 new projects valued at P8.7 billion nationwide, sustaining a growth trajectory highlighted by a 13 percent increase in residential revenues, totaling P14.49 billion. Las Marias expressed confidence in meeting targets for the year, attributing success to projects in Laguna, Davao, Pangasinan, Rizal, Zamboanga, and Cebu.
In February, FLI unveiled Iloilo Centrale, an 11.4-hectare mixed-use development integrating urban living with the region’s rich heritage. The company remains committed to crafting communities that meet the evolving needs of Filipino families for quality and affordability.
FLI anticipates further growth in its office and commercial leasing businesses, building on a 13 percent increase in rental revenues in 2023. A recent milestone is FLI’s lease agreement with the Department of Trade and Industry for its entire Filinvest Buendia building, reflecting its vision to be a key player in the office leasing market.
Expanding beyond office and commercial leasing, FLI is actively developing large-scale industrial parks, exemplified by its Filinvest Innovation Parks in New Clark City and Ciudad de Calamba. Construction of Ready-Built-Factories (RBFs) is already underway, signaling a significant move in cultivating a new asset class.
Dividend distribution is slated for June 5, 2024, for stockholders recorded as of May 13, 2023. With robust expansion plans and unwavering commitment to its mission of realizing the Filipino dream, Filinvest Land remains at the forefront of driving positive change and shaping the future of real estate in the Philippines.
