FLI on track to complete 2nd office tower in Pampanga

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CLARK, PAMPANGA — Filinvest Land, Inc. (FLI) is set to finish its second office tower within the group’s 201-hectare tourism and leisure estate in Pampanga this year, as it seeks to cater to the business process outsourcing (BPO) firms flocking to the province.

The office tower called 2 Workplus offers a total gross leasable area (GLA) of 13,035.5 square meters (sq.m.) across five office floors, while there will be another floor dedicated to retail. The building also offers 171 parking slots for its employees.

2 Workplus is the second of six mid-rise buildings inside the estate’s office complex called Workplus. The first building was completed in 2017, and has a GLA of 8,409.55 sq.m. The building is now fully leased out to a combination of BPOs and Chinese gaming firms.

“The Chinese online gaming has been making a huge impact in the industry, especially in real estate. We have an office space in Pasay that they recently closed four buildings with… right now they’re really moving to Clark,” Filinvest Cyberzone Mimosa, Inc. Cesarine Janette B. Cordero said in a media briefing here on Thursday.

The company said one floor of 2 Workplus has already been taken up by flexible workspace operator Regus.

FLI expects to add four more office towers to the estate until 2021.

The Workplus office complex is part of the Filinvest group’s Mimosa+ Leisure City in Clark Freeport Zone, Pampanga. The mixed-use development is being leased out to the group for a period of 50 years.

Aside from office spaces, Mimosa+ Leisure City will also house leisure components, including a golf course, Quest Hotel and Conference Center, a lifestyle mall, retail strip, and events grounds. The company will also develop residential properties to accommodate the employees working in the office spaces, as well as retirees.

FLI saw its net income attributable to the parent jump by eight percent to P1.21 billion in the second quarter of 2018, following revenues of P4.16 billion. This brought the company’s attributable profit for the first half to P2.6 billion, seven percent higher year-on-year as revenues also rose nine percent to P10.06 billion.

Shares in FLI went up by a centavo or 0.66% to close at P1.53 each at the stock exchange on Thursday. — Arra B. Francia