FILINVEST LAND’s 3 quarters revenues up 28 percent
One of the country’s leading residential developers and BPO offices providers has registered a 28 percent increase in revenues for the first three quarters of 2014 compared to the same period last year.
Filinvest Land, Inc. (FLI) reported its revenues were up to PhP 10.81 billion from January to September, 2014 while consolidated net income jumped to PhP 2.89-Billion, from PhP 2.44-Billion over the same period in 2013, a 19 percent increase.
The company attributes the strong results to the sustained robust growth in its residential business and office leasing operations.
FLI recorded real estate revenues of PhP 9.15 Billion, 31 percent more than the PhP 6.97 Billion posted over the same period last year.
This was driven by strong sales in its horizontal housing projects, medium-rise building projects that carry the “Oasis” brand and high-rise building projects like “Studio Zen”.
The firm is on track to launch PhP17.5 Billion in residential projects in 2014.
Among the projects launched during the first three quarters was “100 West”, a mixed-use development high-rise tower with residential, retail and office components, conveniently located at Sen. Gil Puyat Avenue in Makati.
Revenues from rental assets rose to PhP 1.65 Billion, a 10 percent increase from the PhP 1.50 Billion generated over the same period in 2013, as the firm recognized additional revenues from its new office buildings “Filinvest One” and “Plaz@ E”at Northgate Cyberzone in Filinvest City, Alabang.
FLI CEO and President Josephine Gotianun Yap said that the firm will be making significant investments in its recurring income portfolio.
“We believe that the rental business will provide the stability of revenue streams. This is why a significant amount of our capex will be earmarked for investment properties. We are looking at increasing our gross leasable area to three times our current office and retail space inventory within five years. “
Filinvest Land is a pioneer in providing office space to BPOs.
“We are confident of sustained growth for the companyas we continue to launch new residential projects and execute our plans to increase offices as well as retail spaces in key locations nationwide,” she added.
In Cagayan de Oro, FLI is set to deliver the first of five buildings of One Oasis CDO, the very first mid-rise condo development of Filinvest in Cagayan de Oro City, as early as 3rd Quarter of 2015.
“Completion and delivery dates are top considerations of Filinvest Land, which sets our project apart from the rest which have a 5-year lag time,” notes Ms Ara Solidum, FLI Area General Manager for North Mindanao.
One Oasis CDO is the 12th FLI development nationwide to carry brand which features a resort style community with resort-inspired lifestyle, refreshing landscapes and a convenient, laid-back lifestyle in a prime urban zone.
Meantime, FLI launched a series of new model units in Filinvest Homes Butuan, located along the National Highway (Davao-Butuan-Cagayan Road) at Km. 3 Bgy. Baan, less than a kilometer from the city proper.
Its three house models,: Amber, Opal, and Molave have down payments starting at PhP 8,200 per month, with homeowners offered a choice of the following packages: Lot only (134-365 sqm, PhP 1MN-3.4), Amber House & Lot package (40.31 sqm, LA 75 sqm, PhP 1.38MN) Opal House & Lot Package (53.6 sqm/LA 104 sqm/PhP 1.9-2.8M) or Molave House & Lot Package (39.4 sqm/143 sqm/PhP 2.4-2.5M)
“FHB offers the best value-for-money selling price per square meter for an exclusive and themed residential subdivision with resort inspired amenities,” Ms. Solidum notes. On top of that, it offers better financing packages to choose from including In-house, Bank and Pag-IBIG financing schemes.
Not the least, FLI’s Villa San Ignacio in Bgy. Tumaga, Zamboanga City is expected to be sold out soon and further expansions are planned in the near future to address the clamor of potential homeowners in the key cities of north-western Mindanao.