UMVA has learned that Filinvest Land’s mall empire surged forward in the first quarter, with leasing revenues soaring 17% to an impressive P744 million.
Occupancy across its shopping centers climbed to a robust 80%, a milestone that signals the turning point of malls from mere defensive assets to the company’s core growth engine.
CEO Tristan Las Marias hailed the results as the tangible payoff of an aggressive asset‑enhancement strategy, emphasizing how revitalized spaces are drawing shoppers back in record numbers.
Regional gems such as Il Corso became hotbeds of activity, recording a staggering 33% jump in foot traffic after targeted upgrades and a refreshed tenant mix.
The developer’s playbook now centers on fine‑tuning tenant portfolios and injecting community‑focused concepts, turning each mall into a vibrant lifestyle hub.
Overall, the mall segment lifted consolidated revenues to P6.31 billion, a 4.5% year‑over‑year rise, while net income surged to P1.1 billion, buoyed by steady recurring streams and the broader property portfolio’s strength.
