Filinvest Land Inc. (FLI) reported a flat net income of ₱2.12 billion in the first half of 2025, inching up marginally from ₱2.11 billion in the same period last year, as weaker second-quarter earnings offset gains from its core leasing business.
The Gotianun-led developer posted a 5 percent increase in consolidated revenue to ₱12.21 billion, driven largely by sustained momentum in its retail and office leasing segments, even as real estate sales remained steady at ₱7.48 billion.
Second-quarter performance softened, with net income slipping 5 percent to ₱1.06 billion and revenue from sales and services declining 1 percent to ₱5.81 billion, reflecting short-term pressures on residential and service-related operations.
Despite this, FLI continued to scale up its recurring income portfolio, with leasing revenue rising 12 percent to ₱4.1 billion in the first half. Notably, retail leasing hit an all-time high of ₱1.32 billion, buoyed by flagship assets such as Festival Mall and regional sites like Il Corso (Cebu), Main Square (Bacoor), Fora Mall (Tagaytay), and the newly launched Filinvest Malls Dumaguete.
Over 8,000 sqm of new GLA commenced operations in Q2, with over 10,000 sqm signed for future leases. FLI’s total operational retail GLA now stands at 257,170 sqm.
Office leasing revenue climbed 8% to ₱2.48 billion, supported by an 11% increase in occupied GLA, now totaling 398,000 sqm. New tenants include Pinnacle Intelligence and Qatar Aviation Services, signaling growing demand from international locators.
“Our targeted rent strategies and tight cost controls are working,” said Tristan Las Marias, FLI president and CEO. “We expect the upcoming openings of Filinvest Malls Cubao and Mimosa Leisure Estate in Clark to sustain this momentum. At the same time, we’re seeing strong demand in Visayas, Mindanao, and non-NCR Luzon for residential offerings.”
The middle-income segment remains the backbone of FLI’s housing portfolio, contributing 70% of residential revenues, while non-Metro Manila Luzon drove 37% of total option sales.
Meanwhile, Filinvest REIT Corp., the company’s real estate investment trust, reported an 8 percent income increase to ₱651 million, with revenue rising 13 percent to ₱1.57 billion, partly due to the addition of Festival Main Mall to its portfolio.
While net profit remained flat, FLI’s solid leasing gains and expanding footprint in both the office and retail sectorssignal a strategic shift toward more resilient recurring revenue streams. The company’s ability to maintain stable earnings amid headwinds also underscores the resilience of its diversified portfolio and its growing presence in emerging regional markets.
