Filinvest Land, Inc. (FLI) grew its earnings by 9% in 2017, fueled by the expansion of its rental properties alongside demand from both retail and office spaces.
In a statement issued Wednesday, March 21, FLI said it generated a net income of P5.83 billion last year, as revenues rose to P20.27 billion. The company did not mention the revenue growth from the year, but earlier reports show that revenues in 2016 stood at P19.5 billion.
“The company attributed the revenue increase to a major expansion of its rental property portfolio and the continued strong demand for its retail and office spaces,” FLI said.
The Gotianun-led firm booked P4.42 billion in rental revenues, up 30% year-on-year, after opening new office and retail buildings. 2017 saw the opening of Vector Three in Northgate Cyberzone Alabang, which added 36,000 square meters (sq.m.) of office space to FLI’s portfolio. — Arra B. Francia