Optimistic and positioned for growth following its strong financial performance in 2023, Filinvest Land Inc. (FLI), announced a cash dividend for common shares amounting to P0.05 per share representing a 32% dividend payout ratio, the highest ratio declared since 2014.
This was announced during the company’s recent annual stockholders’ meeting, wherein FLI also shared medium-term plans for expansion, ramping up the development of tailored communities and affordable housing solutions while boosting its commercial and industrial leasing business.
“This underscores our commitment to create value and generate sustainable returns for our shareholders as we drive growth and progress in the real estate sector,” said FLI President and CEO Tristan Las Marias.
Las Marias also shared that FLI intends to launch P25 billion worth of residential projects in 2024, mostly mid-rise residential buildings and landed housing. “We will continue to offer value-for-money residential developments anchored on well-planned townships as we fulfill our core purpose of building the Filipino dream,” he said.
Further solidifying its focus of providing value-for-money and future-ready homes, FLI plans to continue to develop mid-rise buildings, catering to the increasing demand for modern living spaces. The company launched 11 new projects in 2023 valued at P8.7 billion in key areas nationwide.
“We sustained our growth trajectory fueled by a 13% growth in residential revenues of PHP14.49B, with solid sales results generated by our projects in Laguna, Davao, Pangasinan, Rizal, Zamboanga, and Cebu. We are confident in achieving our targets for the year and we are excited to share this success with our shareholders,” said FLI President and CEO Tristan Las Marias.
Last February, FLI introduced Iloilo Centrale, an 11.4-hectare mixed-use development combining urban living with the region’s timeless heritage. Building such communities, which resonate with the evolving needs of Filipino families for quality and affordability, remain FLI’s focus.
FLI continues to anticipate growth and expansion of its office and commercial leasing businesses, building upon its 13% increase in rental revenues in 2023. A recent milestone in this trajectory is FLI’s lease agreement with the Department of Trade and Industry (DTI), leasing its entire Filinvest Buendia building to the government agency. This move reflects FLI’s vision to be a key player in the office leasing market, serving not only traditional businesses but also BPOs, government agencies, and co-working operators. Extending beyond its focus on office and commercial leasing, FLI is also into shaping large scale industrial parks as centers of economic activity. This is exemplified through its Filinvest Innovation Parks (FIP) in New Clark City and Ciudad de Calamba, where the construction of Ready-Built-Factories (RBFs) is already underway, marking a significant step in cultivating a fresh asset class.
Dividend distribution is scheduled on June 5, 2024, for stockholders on record as of May 13, 2023.
With robust expansion plans and a steadfast dedication to its purpose of building the Filipino dream, Filinvest Land remains at the forefront of driving positive change and shaping the future of real estate in the Philippines.