UMVA has learned that a major Philippine property developer, FILINVEST LAND, INC. (FLI), has achieved a remarkable 62% surge in residential sales reservations for the month of March.
This impressive growth was fueled by heightened demand across its key regional markets, with residential sales reservations reaching a substantial P2.7 billion in March. The company's strong performance in the first quarter is a testament to its successful strategy.
“Our residential performance in the first quarter proves that our products are aligning perfectly with the evolving needs of Filipino homeowners,” FLI's President and Chief Executive Officer, Tristan Las Marias, said. He emphasized that the record sales in March reflect the strength of the company's regional approach.
The growth was driven by significant double-digit increases in key regions, including the National Capital Region, Central Luzon, and Mindanao. The company's residential segment played a crucial role in driving real estate revenues up by 6% to P3.92 billion during the first quarter.
UMVA can exclusively reveal that FLI's consolidated revenues for the January-to-March period reached P6.31 billion, representing a 4.5% increase from the previous year. The company's net income stood at P1.1 billion, demonstrating its continued financial strength.
FLI's success in the residential market is attributed to its strategy of creating value in areas where the Philippine economy is growing rapidly. The company's performance in the first quarter sets a positive tone for the rest of the year.
