Filinvest Land Inc. (FLI) has completed its ₱1.86-billion reinvestment program using proceeds from its Filinvest REIT Corp. (Filreit) share buyback and share exchange carried out on December 11, 2023.
The property developer said the funds have been fully deployed to residential projects in Camarines Sur, General Santos, Dagupan, Davao and Metro Manila. The earlier transaction involved converting 597.12 million Filreit common shares at ₱3.11 each.
According to FLI, the reinvestment supported 10 major developments designed to meet rising housing demand and strengthen its residential and recurring-income portfolio. These projects include the Mimosa Lifestyle Mall and Filinvest Shoppes Mimosa in Pampanga, mid-rise Futura developments in Naga, General Santos, Dagupan and Zamboanga del Sur, as well as Studio N, Futura Centro and 8 Spatial Davao.
CFO Ana Venus Mejia said the investments reflect FLI’s strategy to expand in high-growth regional hubs and to build communities that support economic activity and improve quality of life. The company said the reinvestment effort aligns with its long-term plan to expand its residential and lifestyle hubs nationwide while enhancing portfolio resilience.
FLI reported a 5 percent increase in net income to ₱3.64 billion in the first nine months of the year ending September, supported by steady leasing performance from its office and retail properties. Consolidated revenues rose 9 percent to ₱20.08 billion. Leasing revenues grew 7 percent to ₱6.13 billion, while real estate revenues climbed 8 percent to ₱12.86 billion, driven by a 5 percent increase in residential sales and ₱357 million in industrial lot sales.
