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Manila Bulletin devider Business devider FLI plans new products, allots P16 B for capex

FLI plans new products, allots P16 B for capex

Published Apr 23, 2021 04:56 pm

Filinvest Land, Inc. (FLI), the property arm of Filinvest Development Corporation (FDC), is banking on its P190 billion worth of projects in the pipeline, including new products to be launched, as part of its medium-term strategies.

     During the firm’s virtual Annual Stockholders Meeting, FLI President and CEO Josephine Gotianun Yap said that, “In 2021, we are moving forward and embarking on new initiatives such as logistics and e-commerce warehouses, and co-living spaces.”

She noted that, “These initiatives address new trends that will define our future and will widen the base of our investment properties for recurring income.”

Gotainun-Yap also reiterated their plan to enter the real estate investment trust market, a new financial platform to monetize investment assets as they mature and provide funding to fuel future growth.

Filinvest Land’s planned capital expenditures for 2021 is P16 billion, with P6.4 billion for residential developments, P5.8 billion for office developments and P3.8 billion for retail, logistics/innovation parks and land acquisition.

The firm said its office leasing business grew 8 percent in 2020 despite the pandemic. FLI saw its office business grow almost four-fold at a compounded annual growth rate of 25 percent as the company focused on the expansion of its office portfolio primarily servicing the BPO sector.

FLI announced a cash dividend for common shares amounting to P0.031 per share representing a 20 percen payout.  Similar to last year, the dividends will be done in two tranches. 

Of the amount, P0.0155 per share will be paid on June 15, 2021 for stockholders on record as of May 21, 2021, while another P0.0155 per share will be paid on December 9, 2021 for stockholders on record as of November 15, 2021.

Filinvest Land is gearing up for its maiden REIT offering intended this year that is expected to carry a portfolio of over 300,000 sqm of GLA from modern office developments.

Most of these are strategically located in Northgate Cyberzone at Filinvest City, a 244-hectare CBD which has attained LEEDv4 Gold Certification for Neighborhood Development in Southeast Asia.

Projected proceeds to be received by FLI from the REIT offering will enable FLI to fund the completion of its ongoing as well as planned office projects.

Part of the proceeds are also intended to fund the development of FLI’s logistics and innovation parks to address the needs of logistics, light manufacturing, storage and e-commerce companies.

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Josephine Gotianun Yap Filinvest Land Inc.
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