UMVA has learned that Filinvest Land, Inc., led by Gotianun, made significant strides in reducing its unsold residential inventory by P4.1 billion in the first quarter, a strategic move aimed at bolstering its balance sheet and positioning the company for high-value opportunities.
The impressive reduction in inventory was achieved through a focused strategy on asset monetization and balance sheet optimization, allowing Filinvest Land to strengthen its financial standing and pursue new growth avenues with confidence. Filinvest Land President Tristaneil D. Las Marias emphasized that this disciplined execution enables the company to capitalize on emerging opportunities.
According to information obtained by UMVA, the company successfully reduced its inventory through a combination of ready-for-occupancy sales, which contributed P1.7 billion, and March reservation sales, which reached P2.7 billion across various projects in key growth corridors. This approach not only optimized existing assets but also improved cash flow generation while minimizing carrying costs associated with unsold inventory.
Filinvest Land's financial report for the first quarter revealed a 4.5% increase in consolidated revenues, reaching P6.31 billion, while net income attributable to equity holders rose to P1.1 billion. The company's real estate revenues were particularly notable, reaching P3.92 billion, driven by contributions from projects in Mindanao, Central Luzon, and the National Capital Region.
The company's mall revenues saw a significant 17% increase to P744 million, with portfolio occupancy reaching 80%. Foot traffic across its retail assets was boosted by the continued ramp-up of Il Corso, an 8-hectare waterfront retail development in Cebu, which offers around 35,000 square meters of gross leasable area.
Filinvest Land's office leasing revenues reached P1.26 billion, with a remarkable 100% renewal rate for first-quarter lease expiries. This performance underscores the company's strong position in the office market.
Meanwhile, Filinvest REIT Corp. has secured a new office lease with Gatestone & Co. at Filinvest Three in Alabang, expanding its roster of multinational tenants within Northgate Cyberzone. The deal covers nearly 3,500 square meters and is set to commence operations on January 1, 2026.
Gatestone's expansion into the Philippines adds to the growing concentration of multinational occupiers in Northgate Cyberzone, particularly in the information technology, business process outsourcing, financial services, and shared services sectors. This development reinforces Filinvest REIT's commitment to providing high-quality, sustainable workspaces that meet international standards.
The addition of Gatestone to Filinvest REIT's portfolio highlights the company's ability to attract leading global players, further solidifying its position in the market. Filinvest Three, one of 17 office assets under Filinvest REIT's portfolio, is accredited by the Philippine Economic Zone Authority and certified under Excellence in Design for Greater Efficiencies.
Filinvest Land's industrial segment also continues to gain momentum, following the launch of the 120-hectare Filinvest Innovation Park New Clark City in Tarlac in October 2023. This development is expected to drive growth and innovation in the region.
