FLI on track to meet 1.5M GLA target as it opens more offices and malls
Gotinaun-led Filinvest Land Inc. is confident it will sustain its growth for the rest of the year with the expected opening of new office buildings, and shopping malls.
FLI now operates 27 office and retail developments totaling 595,000 square meters of GLA. It expects to add 200,000 sqm to its GLA by the end of the year. By 2020, the realty firm expects to hit its target of 1.5 million sqm of GLA.
The company has a pipeline of 30 recurring income developments with 370,000 sqm of additional GLA currently under construction.
?We forecast residential revenues to remain stable,? said Josephine Gotianun, CEO and president of FLI.
FLI posted a net income of P2.88 bilion in the first semester up nine percent on the back of a six percent rise in revenues to P10.65 billion.
Rental revenues swelled 28 percent to P2.6 billion as the company booked increased revenues from its newly completed office and retail buildings.
FLI is the developer of large scale townships nationwide: Havila (306 hectares), Timberland Heights (677 hectares) and Manna East (60 hectares) in Rizal, Ciudad de Calamba (355 hectares), City di Mare in Cebu (50 hectares) and Palm Estates in Talisay City (51 hectares). FLI owns 20% of Filinvest City (244 hectares), the premier CBD in southern Metro Manila.
It has also positioned itself to be at the forefront of the development of the Clark Special Economic Zone through two major township developments Filinvest Mimosa+ Leisure City (201 hectares) and Filinvest at New Clark City (288 hectares).
FLI has built almost 200 residential developments across the country.