Filinvest REIT Corp., or Filreit, the real estate investment trust of the Gotianun group, reported on Tuesday that its net income for the first six months ending June rose 34 percent to P874 million, up from P650.74 million in the same period a year earlier. Total revenues grew 31 percent year-on-year to P2.05 billion from P1.56 billion, boosted largely by the full contribution of Festival Main Mall. Costs and expenses increased 8 percent to P663 million, while other charges fell 1 percent to P185 million.
Filreit’s board has approved a regular quarterly cash dividend of 6 centavos per outstanding common share for shareholders listed as of August 20, 2025, with payment set for September 1. This dividend applies to earnings from April to June 2026, bringing the total declared dividends for 2026 so far to 18 centavos per common share. Based on the company’s closing share price of P2.92 on August 3, this equals an annualized yield of 8.2 percent.
The company’s portfolio includes 17 office buildings, one shopping mall and one resort lot, with a total gross leasable area of 452,310 square meters. Average occupancy stood at 87 percent in the first half, unchanged from the prior quarter but six percentage points higher than a year ago. The addition of Festival Main Mall in May last year lifted overall occupancy and helped counter softer rental rates in the office sector. The tenant mix is 61 percent office, 32 percent retail and 7 percent hospitality. Office properties posted an average occupancy of 80 percent in the first half, with multinational business process outsourcing firms making up 85 percent of occupied office space, traditional tenants accounting for 13 percent, and the rest going to coworking spaces, wellness centers and educational institutions.
As of June, Filreit had secured 5,964 square meters of new leases from both new tenants and existing businesses expanding within Northgate Cyberzone. For leases expiring this year covering 20,689 square meters, 49 percent have been renewed or are covered by signed letters of intent to renew. The portfolio’s weighted average lease expiry stood at 13.95 years as of the end of June.
“Our first-half performance reflects the resilience of our portfolio,” said Maricel Brion-Lirio, Filreit president and chief executive officer. “As we move through the rest of 2026, we will remain focused on disciplined leasing, prudent cost management, and sustainability-led initiatives that support stable dividends and long-term shareholder value.”
