Filinvest Land earnings climb as mall recovery, home sales gain steam

Filinvest Land Inc., the property arm of the Gotianun family, reported a 10 percent increase in net income for the first quarter of 2026, driven by recovery in its retail malls and push to clear completed residential inventory. The firm said in a disclosure to the Philippine Stock Exchange that net income rose to ₱1.1 billion in the three months ended March from ₱1 billion during the same period a year earlier. Consolidated revenues for the developer grew 4.5 percent to ₱6.31 billion. FLI credited the growth to its success in capital efficiency as it managed to reduce unsold residential inventory by ₱4.1 billion, underpinned by record Ready-for-Occupancy sales of ₱1.7 billion. This strategic movement of assets has fundamentally bolstered the company’s strong balance sheet, positioning it for sustained expansion. “These results reflect the strength of our long-term strategy—anchored on diversification, township development, and disciplined execution,” said FLI President and CEO Tristan Las Marias. He noted that, “While near-term market conditions remain selective, our portfolio continues to generate stable cash flows and positions us well for sustainable growth.” Residential revenues improved 5.9 percent to ₱3.92 billion, with March reservation sales surging 62 percent to ₱2.7 billion year-on-year. This growth was distributed across key regional hubs in Mindanao, Central Luzon, and the NCR, validating FLI’s focus on RFO inventory to meet immediate buyer demand. FLI’s mall business continues to scale its contribution to the group, with leasing revenues rising 17 percent to ₱744 million in the first quarter of 2026. Bolstered by active asset enhancements, mall occupancy reached 80 percent, while the regional flagship Il Corso in Cebu recorded a 33 percent jump in foot traffic. Meanwhile, office leasing generated ₱1.26 billion in revenue, compared with ₱1.27 billion in the first quarter last year, with a perfect 100 percent renewal rate for all first quarter lease expiries. On the other hand, the industrial segment is gaining traction, with robust interest in the 33-hectare mega lots at the Filinvest Innovation Park-New Clark City. (James A. Loyola)