Filinvest Land Inc., the listed property development arm of the Gotianun Group, plans to launch P25 billion worth of residential projects this year, mostly residential buildings and landed housing, to sustain double-digit growth seen last year.
“We will continue to offer value-for-money residential developments anchored on well-planned townships as we fulfill our core purpose of building the Filipino dream,” said FLI president and chief executive officer Tristan Las Marias.
“This underscores our commitment to create value and generate sustainable returns for our shareholders as we drive growth and progress in the real estate sector,” he added.
FLI launched 11 new projects in 2023 valued at P8.7 billion in key areas nationwide.
This allow the property developer to grow residential revenues by 13 percent to P14.49 billion, with solid sales results generated by our projects in Laguna, Davao, Pangasinan, Rizal, Zamboanga, and Cebu.
“We are confident in achieving our targets for the year and we are excited to share this success with our shareholders,” said FLI president and CEO Tristan Las Marias.
Aside from residential projects, the company is also looking at its office building development, which will cater mainly to the business process outsourcing industry, to provide support to earnings growth.
With strong results for 2023, FLI declared a cash dividend of P0.05 per share, equivalent to a 32 percent dividend payout, the highest ratio since 2014. The dividend will be paid on June 5.
