Filinvest Land Inc., the listed property development arm of the Gotianun Group, posted a 3 percent increase in first-quarter net income to P905 million, driven by stronger residential sales, higher leasing revenues, and improved cost efficiency.
Consolidated revenue and other income climbed 12 percent in the January-March quarter to P6.04 billion.
Residential real estate remained the company’s growth engine, with revenue rising 9 percent to P3.7 billion on the back of robust demand in CALABARZON, Visayas, and Mindanao. The middle-income segment—representing 79 percent of total residential revenue—expanded by 20 percent year-on-year, fueled by rising sales of ready-for-occupancy units and steady project completions.
Leasing revenue also delivered a solid performance, jumping 17 percent to P2.06 billion amid stable demand in FLI’s office and retail portfolios. Improved occupancy and tighter cost controls helped boost profitability, with gross margins in the residential segment rising to 53 percent from 49 percent a year earlier. Retail margins also improved to 54 percent, up by 3 percentage points.
“Our focus on RFO sales and smarter lease strategies is paying off,” said FLI president and chief executive officer Tristan Las Marias. “We’re also accelerating the opening of our new malls in Activa Cubao and Mimosa Clark, which are seeing strong tenant interest.”
Las Marias added that the company’s provincial projects continue to perform well, contributing significantly to overall growth. With strong fundamentals and a mix of recurring and developmental income streams, FLI said it is positioned to sustain its momentum for the rest of the year, even as it navigates evolving market conditions.
