Property developer Filinvest Land, Inc. (FLI) and its subsidiaries and affiliates won the bid for the 19.24-hectare lot located at South Road Properties (SRP) owned by Cebu City government.
In a disclosure to the Philippine Stock Exchange, FLI said they aim to develop Lot No. 1 (consolidated portions of lots 7 and 17) into commercial and/or office and residential projects, in accordance with the required minimum development plans of the city government.
Under the bidding guidelines, 70 percent of the buildable area is intended for commercial and/or office use, and the remaining 30 percent for residential use.
“The new development will complement the ongoing City di Mare project of FLI in SRP,” it said.
The property will be developed and owned by FLI, the residential property arm of the Filinvest Group, together with its office development subsidiary, Cyberzone Properties, Inc., its Central Business District affiliate, Filinvest Alabang, Inc. (FAI) and other possible strategic partners.
Earlier, a consortium formed by property giants SM Prime Holdings Inc. and Ayala Land Inc. and its affiliate Cebu Holdings, Inc, also won the bid for the development of a 26-hectare portion of SRP for P10 billion.
- Interaksyon
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Showing posts with label FLI. Show all posts
Showing posts with label FLI. Show all posts
Thursday, July 2, 2015
Thursday, March 12, 2015
Residential sales boost Filinvest Land's 2014 net income
Filinvest Land Inc’s (FLI) earnings last year grew in the mid-teens on the strength of residential sales.
In a disclosure to the Philippine Stock Exchange, Gotianun-led FLI said it earned P4.60 billion in 2014, a 16 percent increase from the P3.98 billion the prvious year.
Revenue rose by more than a fifth to P16.90 billion, of which P13.20 billion came from residential sales, which increased by 26 percent from the P10.48 billion in 2013.
Sales came from its Futura Homes affordable housing projects, medium-rise buildings that carry the “Oasis” and “Spatial” brands, and its Studio Series high-rise buildings. FLI launched P12.5 billion worth of residential projects last year.
Rental revenue from its office segment increased by 11 percent to P2.26 billion from the previous year’s P2.03 billion, with the growth coming from new buildings such as the “Filinvest One” and “Plaz@ E”, both at the Northgate Cyberzone in Filinvest City Alabang, Muntinlupa.
To date, FLI has 14 office buildings, with three more in the pipeline, completion of which would increase the company’s portfolio to 274,971 square meters.
For this year, the company aims to launch P16 billion worth of projects, on track to hitting its plan of having a recurring income portfolio of 970,000 square meters by 2019.
“We are targeting to increase our gross leasable area to three times our current office and retail space inventory within the next five years. For 2015, we are adding around 67,506 square meters of office space and 85,034 square meters of retail space to our portfolio,” said FLI chief executive Josephine Gotianun-Yap.
“The outstanding performance of FLI in 2014 was brought about by the company’s ability to address the needs of homebuyers as reflected in the consistent growth of residential sales and its ability to execute its plans to increase office as well as retail spaces in key locations nationwide,” she added.
- Interaksyon
In a disclosure to the Philippine Stock Exchange, Gotianun-led FLI said it earned P4.60 billion in 2014, a 16 percent increase from the P3.98 billion the prvious year.
Revenue rose by more than a fifth to P16.90 billion, of which P13.20 billion came from residential sales, which increased by 26 percent from the P10.48 billion in 2013.
Sales came from its Futura Homes affordable housing projects, medium-rise buildings that carry the “Oasis” and “Spatial” brands, and its Studio Series high-rise buildings. FLI launched P12.5 billion worth of residential projects last year.
Rental revenue from its office segment increased by 11 percent to P2.26 billion from the previous year’s P2.03 billion, with the growth coming from new buildings such as the “Filinvest One” and “Plaz@ E”, both at the Northgate Cyberzone in Filinvest City Alabang, Muntinlupa.
To date, FLI has 14 office buildings, with three more in the pipeline, completion of which would increase the company’s portfolio to 274,971 square meters.
For this year, the company aims to launch P16 billion worth of projects, on track to hitting its plan of having a recurring income portfolio of 970,000 square meters by 2019.
“We are targeting to increase our gross leasable area to three times our current office and retail space inventory within the next five years. For 2015, we are adding around 67,506 square meters of office space and 85,034 square meters of retail space to our portfolio,” said FLI chief executive Josephine Gotianun-Yap.
“The outstanding performance of FLI in 2014 was brought about by the company’s ability to address the needs of homebuyers as reflected in the consistent growth of residential sales and its ability to execute its plans to increase office as well as retail spaces in key locations nationwide,” she added.
- Interaksyon
Thursday, January 22, 2015
Regulator clears Filinvest unit's power supply contract with Davao electric cooperative
The Filinvest Group has secured regulatory approval of its power supply contract with the electric cooperative of Davao Oriental.
In a ruling, the Energy Regulatory Commission (ERC) cleared the power purchase deal between FDC Misamis Power Corporation and Davao Oriental Electric Cooperative Inc (Doreco).
Under the agreement, Doreco will buy six megawatts (MW) from FDC Misamis’ 405-MW coal-fired power project at the PHIVIDEC Industrial Estate in Misamis Oriental for 15 years.
The additional supply would allow Doreco to meet its forecast demand from 2014 to 2028. The electric cooperative sources 5.4 MW from state-owned hydropower plants, contracts for whic expire in 2016.
Doreco also sources 6 MW from the Aboitiz Group's power barges.
FDC Misamis and Doreco agreed to a P4.72 per kilowatt-hour (kWh) rate, which would redound to a reduction of P0.41 per kWh in the electricity bills of the cooperative’s customers. But after excluding some proposed costs, the ERC approved a lower rate of P3.33 per kilowatt-hour, which is "within the level among the recently approved rates for coal-fired power plants in the Philippines."
The P43 billion coal project of FDC Misamis is slated for commission next year.
The company previously secured contractual commitments from 17 electric cooperatives, including Doreco, for the project's first two 135-MW generating units.
FDC Misamis is a wholly-owned subsidiary of FDC Utilities Inc, the upstart power generation unit of Filinvest Development Corporation.
Doreco distributes electricity to the city of Mati and the municipalities of San Isidro, Manay, Cateel, Lupon, Gov. Generoso, Caraga, Boston, Banaybanay, Tarragona, and Baganga in Davao Oriental.
- Interkasyon
Wednesday, December 10, 2014
Ayala, Datem, Filinvest and Megawide shortlisted for south metro transport hub project
Four companies have been shortlisted for a P4-billion public transport terminal project in the south of Metro Manila.
The Department of Transportation and Communications (DOTC) identified the four qualified bidders for the Integrated Transport System (ITS) - South Terminal as Ayala Land Inc (ALI), Datem Inc, Filinvest Land Inc (FLI) and Megawide Terminals.
DOTC said these four were found to have fulfilled the legal, technical and financial qualification requirements for the project.
They have until April next year to submit their bids.
One of the Aquino administration's public-private partnership (PPP) projects, the ITS - South Terminal will be located near the Food Terminal Inc, the development contract for which ALI earlier bagged.
The project will connect passengers coming from the provinces of Laguna and Batangas to other urban transport systems, such as the future North-South Commuter Rail, city buses, taxis and other public utility vehicles that serve the inner Metro Manila.
The terminal will include a passenger terminal building, arrival and departure bays, public information systems, ticketing and baggage holding facilities and park-ride facilities.
The winning bidder will build, operate and manage the said terminal for 35 years.
- Interaksyon
The Department of Transportation and Communications (DOTC) identified the four qualified bidders for the Integrated Transport System (ITS) - South Terminal as Ayala Land Inc (ALI), Datem Inc, Filinvest Land Inc (FLI) and Megawide Terminals.
DOTC said these four were found to have fulfilled the legal, technical and financial qualification requirements for the project.
They have until April next year to submit their bids.
One of the Aquino administration's public-private partnership (PPP) projects, the ITS - South Terminal will be located near the Food Terminal Inc, the development contract for which ALI earlier bagged.
The project will connect passengers coming from the provinces of Laguna and Batangas to other urban transport systems, such as the future North-South Commuter Rail, city buses, taxis and other public utility vehicles that serve the inner Metro Manila.
The terminal will include a passenger terminal building, arrival and departure bays, public information systems, ticketing and baggage holding facilities and park-ride facilities.
The winning bidder will build, operate and manage the said terminal for 35 years.
- Interaksyon
Tuesday, November 11, 2014
Filinvest Land profit jumps 19 pct in Jan-Sept
Gotianun family-led residential developer Filinvest Land Inc. (FLI) reported its 9-month consolidated net income rose 19 percent to P2.89 billion.
In a statement, FLI said its revenues grew by 27 percent to P11.82 billion from January to September, on the back of continued growth in its residential business and office leasing operations.
Real estate revenues jumped 31 percent in the 9-month period to P9.16 billion, driven by strong sales in its horizontal housing projects and medium-rise building projects under the "Oasis" brand and high-rise buildings such as "Studio Zen."
Revenues from rental assets increased 10 percent to P1.65 billion in the January to September period. This after FLI recognized additional revenues from its new office buildings “Filinvest One” and “Plaz@ E” at Northgate Cyberzone located in Filinvest City, Alabang.
"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 targeting to increase our gross leasable area to about 995,000 square meters within five years, which is almost 3 times our current office and retail space inventory," FLI CEO and President Josephine Gotianun Yap said.
FLI said it is on track to launch P17.5 billion worth of residential projects this year. Among the projects launched so far is 100 West, a mixed-use development high-rise tower along Sen. Gil Puyat Avenue in Makati.
"We are confident of sustained growth for the company as we continue to launch new residential projects and execute our plans to increase offices as well as retail spaces in key locations nationwide," Gotianun Yap said.
- ABS-CBN News
In a statement, FLI said its revenues grew by 27 percent to P11.82 billion from January to September, on the back of continued growth in its residential business and office leasing operations.
Real estate revenues jumped 31 percent in the 9-month period to P9.16 billion, driven by strong sales in its horizontal housing projects and medium-rise building projects under the "Oasis" brand and high-rise buildings such as "Studio Zen."
Revenues from rental assets increased 10 percent to P1.65 billion in the January to September period. This after FLI recognized additional revenues from its new office buildings “Filinvest One” and “Plaz@ E” at Northgate Cyberzone located in Filinvest City, Alabang.
"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 targeting to increase our gross leasable area to about 995,000 square meters within five years, which is almost 3 times our current office and retail space inventory," FLI CEO and President Josephine Gotianun Yap said.
FLI said it is on track to launch P17.5 billion worth of residential projects this year. Among the projects launched so far is 100 West, a mixed-use development high-rise tower along Sen. Gil Puyat Avenue in Makati.
"We are confident of sustained growth for the company as we continue to launch new residential projects and execute our plans to increase offices as well as retail spaces in key locations nationwide," Gotianun Yap said.
- ABS-CBN News
Saturday, May 10, 2014
Filinvest Land keeps capex at P20B, plans more projects in affordable, mid-income segments
The real estate company of the Gotianun family is rolling out more projects this year, underscoring its positive outlook on the property sector and the Philippine economy.
During its stockholders meeting on Friday, Filinvest Land Inc (FLI) president Josephine Gotianun-Yap said the company is launching 22 projects, mostly in the affordable and mid-income housing segments, worth a combined P17.5 billion.
“FLI is expanding our affordable brand, not just in the greater Metro Manila area but as well as other areas of Luzon, Visayas and Mindanao,” Yap said.
Last year, the listed firm unveiled 17 projects, comprising of six new mid-rise buildings (MRB) and 11 new phases in existing horizontal projects.
In the first quarter, FLI grew its profit between the 15-20 percent range on the back of consistent sales growth from its mid-rise projects and contribution from its rental and leased spaces, Yap said.
The real estate firm is keeping its capital expenditure budget flat at P20 billion this year. The office and retail leasing businesses account for nearly half of the capex, while the residential segment will receive 30 percent of the total. FLI will spend six percent of its budget to accumulate land.
FLI is building two mixed-use projects in Manila and Makati that will combine its prime investment property portfolio and urban residential product strategy.
Located in Chinatown near Tutuban complex, One Binondo will have residential units, office spaces, hotel, mall and plaza retail areas, and micro-retail stalls. Another development is 100 West in Buendia that will have residential, office and retail components.
To complement its residential business, FLI will expand its recurring business with the gross leasable area of its leasing assets expected to grow by 2.5 times to 870,000 square meters by 2018 from 346,000 square meters last year.
The property firm will build new commercial developments near transportation hubs in Cubao, Ortigas, Buendia, Mall of Asia Complex in Pasay City and Filinvest City.
FLI has a land bank of 2,356 hectares that can sustain 10 years worth of horizontal projects and four to five years worth of vertical developments.
FLI's net income rose 14 percent to P4 billion last year from P3.5 billion in 2012 on the back of a 16 percent growth in total revenues.
FLI is part of the Filinvest group, which is engaged in the business of financial services, hotels, sugar farming and milling, and power generation.
- Interaksyon
During its stockholders meeting on Friday, Filinvest Land Inc (FLI) president Josephine Gotianun-Yap said the company is launching 22 projects, mostly in the affordable and mid-income housing segments, worth a combined P17.5 billion.
“FLI is expanding our affordable brand, not just in the greater Metro Manila area but as well as other areas of Luzon, Visayas and Mindanao,” Yap said.
Last year, the listed firm unveiled 17 projects, comprising of six new mid-rise buildings (MRB) and 11 new phases in existing horizontal projects.
In the first quarter, FLI grew its profit between the 15-20 percent range on the back of consistent sales growth from its mid-rise projects and contribution from its rental and leased spaces, Yap said.
The real estate firm is keeping its capital expenditure budget flat at P20 billion this year. The office and retail leasing businesses account for nearly half of the capex, while the residential segment will receive 30 percent of the total. FLI will spend six percent of its budget to accumulate land.
FLI is building two mixed-use projects in Manila and Makati that will combine its prime investment property portfolio and urban residential product strategy.
Located in Chinatown near Tutuban complex, One Binondo will have residential units, office spaces, hotel, mall and plaza retail areas, and micro-retail stalls. Another development is 100 West in Buendia that will have residential, office and retail components.
To complement its residential business, FLI will expand its recurring business with the gross leasable area of its leasing assets expected to grow by 2.5 times to 870,000 square meters by 2018 from 346,000 square meters last year.
The property firm will build new commercial developments near transportation hubs in Cubao, Ortigas, Buendia, Mall of Asia Complex in Pasay City and Filinvest City.
FLI has a land bank of 2,356 hectares that can sustain 10 years worth of horizontal projects and four to five years worth of vertical developments.
FLI's net income rose 14 percent to P4 billion last year from P3.5 billion in 2012 on the back of a 16 percent growth in total revenues.
FLI is part of the Filinvest group, which is engaged in the business of financial services, hotels, sugar farming and milling, and power generation.
- Interaksyon
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