Filinvest to dissolve dormant Mimosa unit to streamline operations

GOTIANUN-LED developer Filinvest Land, Inc. (FLI) is closing its dormant subsidiary Filinvest Lifemalls Mimosa, Inc. (FLMI) to simplify its corporate structure and focus on subsidiaries that are actively generating value, the company said.

“Since FLMI has no assets, operations, or employees, its closure allows us to focus on subsidiaries that are actively driving value and development,” FLI President and Chief Executive Officer Tristaneil D. Las Marias told the stock exchange on Monday.

FLMI has filed an application with the Securities and Exchange Commission to shorten its corporate term, a procedural step that allows FLI to streamline its internal structure.

“This step ensures that all corporate entities within the group remain aligned with long‑term strategic and operational priorities,” the land developer said.

FLI said that the dissolution will not affect ongoing projects within the Filinvest Mimosa+ Leisure City in Clark, Pampanga.

For instance, the construction of Mimosa Lifestyle Mall — also known as Filinvest Malls Mimosa — remains on track, with completion targeted for 2026, according to the company.

“This development is progressing as planned, and once completed, it will serve as a dynamic commercial anchor for the Filinvest Mimosa+ estate,” Mr. Las Marias said.

The mall, located within the 201-hectare Filinvest Mimosa+ property, is expected to boost commercial and retail demand in the province.

The mixed-use estate is also home to Quest Plus Conference Center Clark, Work Plus Office Campus, Mimosa Plus Golf Course, and the upcoming Crimson Clark Hotel.

FLI’s portfolio includes residential, township, mixed-use, retail, office, and leisure developments. Its townships include the 300-hectare Havila, 677-hectare Timberland Heights, and 60-hectare Manna East in Rizal; 335-hectare Ciudad de Calamba in Laguna; 51-hectare Palm Estates in Negros Occidental; and 58-hectare City di Mare in Cebu City.

For the first nine months, FLI posted a 5% increase in consolidated net income to P3.64 billion, driven by strong performance in its real estate and leasing segments.

At the local bourse on Monday, FLI shares declined by 1.30% or one centavo to close at 76 centavos each. — Beatriz Marie D. Cruz