FLI pumps ₱1.8 billion into high-growth corridors in Luzon, Visayas, Mindanao
At A Glance
- ₱
Gotianun-led Filinvest Land Inc. (FLI) reported that it has reinvested ₱1.86 billion raised from the share buyback and exchange for Filinvest REIT Corp. (FILRT) shares executed on Dec. 11, 2024.
In a disclosure to the Philippine Stock Exchange (PSE), FLI said the transaction involved the conversion of 597.12 million FILRT common shares at a crossing price of ₱3.11 per share.
“The completion of the program underscores FLI’s continued commitment to expanding residential communities across high-growth corridors in Luzon, Visayas, and Mindanao,” the company said.
It added that this ensures that strategic capital is channeled into developments that support nationwide progress and long-term value creation.
The reinvestment initiative funded 10 major projects, each selected to address strong housing demand and reinforce FLI’s residential and recurring income portfolio.
Mimosa Lifestyle Mall and Filinvest Shoppes Mimosa in Pampanga province got ₱309.4 million. Also receiving investments were mid-rise residential projects Futura Monte Naga (₱270 million), Futura Bay GenSan (₱206.6 million), Futura One Fora Dagupan (₱137 million), and Futura Vinta Zamboanga (₱84.7 million).
FLI also invested in high-rise residential projects Studio N (₱267 million) and Futura Centro (₱161.7 million), both in Metro Manila, as well as mid-rise building 8 Spatial Davao (₱107.1 million).
“These investments reflect our strategy to bring quality developments closer to emerging urban centers while driving inclusive growth,” said FLI Executive Vice President and Chief Financial Officer (CFO) Ana Venus Mejia.
She added that, “By focusing on key regional hubs, we aim to create vibrant communities that support economic activity and improve quality of life.”