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  • By The Financial District

Filinvest Land Nets ₱5.8-B

Filinvest Land (FLI), one of the country’s leading full-range property developers, recorded a 7% growth in its consolidated revenues and other income for the first half of the year at Php 9.1 billion compared to the same period last year.

Photo Insert: An aerial view of Filinvest City

The revenue growth was due to the strong performance of FLI’s residential and retail businesses. FLI’s residential revenues grew by 10% to Php 5.8 billion.

The company’s retail rental revenues also grew by 53% compared to the same period last year. Residential and retail rental revenues contributed 72% to FLI’s consolidated revenue performance for the first half of the year.

Office leasing and sale of industrial projects contributed the remaining 28% of FLI’s consolidated revenues and other income. The growth in residential revenues were due to accelerated construction progress and strong performance of its housing projects in Cavite, Laguna, and Rizal and medium-rise condo projects in Metro Manila and Davao.

The growth in retail rental revenues was due to improvement in its malls occupancy and the gradual removal of rental concessions. FLI’s consolidated earnings before interest and taxes also grew by 5% for the first half of the year versus the same period last year.

All the news: Business man in suit and tie smiling and reading a newspaper near the financial district.

FLI’s sales of housing and condominium units are up 30% in the first half compared to the same period last year with total option sales of Php 9.1 billion as of the end of June 2022.

"We are happy to see our sales volume increase to pre-pandemic performance and, happier, to see sales growth recorded in almost all the provinces where we operate. We have invested to build bigger distribution channels both locally and abroad to reach more customers and support our expansion activities, and it is paying dividends for us,” said Filinvest Land President Tristan Las Marias.

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