Filinvest Land Inc. grew its first nine months profit by 8 percent to P2.65 billion.
Revenues grew 17 percent to P18.44 billion, on the back of a 21 percent surge in booked residential real estate sales.
Leasing revenues, mostly from FLI’s office and retail businesses, grew 7 percent to P5.71 billion.
Filinvest Land said that among its three business segments, residential posted the strongest growth, boosted by middle-income projects, as percentages of completion ramped up and more accounts were recognized as revenue.
“Our strategic focus on our core strengths in the residential business continued to pay off in the first nine months of 2024. As the year comes to a close, we remain unstoppable in delivering property products relevant to Filipinos’ dynamic preferences. We believe that Filinvest Land’s success will mean greater value for all our stakeholders,” said Tristan Las Marias, Filinvest Land chief executive officer. “Filinvest remains a strong player in the leasing industry with office and retail offerings that attract a diverse array of tenants. Our shopping centers continue to thrive with exciting concepts and our offices can be tailor-fit to lessees’ specific needs. Furthermore, our push to improve occupancy and efficiency in office and retail leasing continues to bear fruit. Aside from this, we continue to be the government’s steadfast partner in nation-building as we deliver high-quality tenant spaces to serve our fellow citizens,” he added.
