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Manila Bulletin devider Business devider The Stock Market devider FILRT expands lease of New Zealand firm

FILRT expands lease of New Zealand firm

Published Jul 30, 2024 12:20 am

Filinvest REIT Corporation (FILRT), the real estate investment trust of the Gotianun Group, has entered a lease expansion contract with New Zealand-based Building Engineering and Design Co. (BEDC). 

In a disclosure to the Philippine Stock Exchange (PSE), the firm said BEDC is a leading engineering and architectural solutions firm based in Auckland that is actively expanding its global presence and commitment to delivering excellence in engineering and design services.

"We are excited to deepen our partnership with BEDC. Their commitment to innovation and excellence aligns perfectly with our goal to deliver world-class office spaces that exceed the expectations of our tenants. Together, we are poised to grow even more," said FILRT President and CEO Maricel Brion-Lirio.

BEDC first located in the Philippines in March 2023, choosing FILRT as its sole space provider for its headquarters in the country. It currently occupies an entire floor in Filinvest Two with 1,724 square meters of gross leasable area (GLA). 

To support the company’s continuous employee growth, BEDC decided to expand to another floor, effectively growing its GLA by 100 percent after barely a year of operations locally. 

The expansion will bring BEDC’s GLA in Filinvest Two to almost 3,500 square meters before year-end.

“We really appreciate having a great relationship with FILRT and a place to continue to build our business,” said BEDC CEO Ben Powles. 

He noted that “from 40 employees, we have increased to 400 within three years and are still growing. Everyone is proud to be here. When we have new people, they are very impressed with the vibe and the amenities of our office and wider FILRT facilities.”

Filinvest Two is one of the 17 Grade-A office buildings in FILRT's portfolio, located in Northgate Cyberzone, Filinvest City, Alabang. 

As of June 2024, FILRT boasts a total of 330,448 square meters in total leasable area spanning 17 office buildings in Alabang and Cebu, and a commercial lot in Boracay.

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Filinvest REIT Corporation Maricel Brion-Lirio
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