FILINVEST LAND, Inc. (FLI) reported a 41% in net earnings attributable to stock investors “faced formidable opposition,” at P3.73 billion in 2020
It has survived many economic and political upheavals before.” There is no denying that COVID is a powerful adversary, said Ms. Lourdes Josephine Gotun Yap, FLI president and CEO.
The residential property developer released on Tuesday announced that their sales had decreased by 32% to P9.84 billion.
Leasing sales increased by 8% to P56 billion. office room processing is provided by FLI
in the final period, residential sales grew by 50% to P12.7 billion, to P2 billion in the third quarter. It offered no forecast of 2019.
This year, foot traffic at the FLI mall increased by 66% due to the convenience of city quarantine regulations. The numbers were not disclosed.
The company alleviated its recurrence revenue exposure to both office and car rentals in the wake of the pandemic. It finished the year with an overall rental revenue decline of 9%
It said it was helping its retail tenants in maintaining their profit levels.
We remain hopeful that the recovery momentum we’ve seen over the last three months will continue into the next year, Ms. Yap said.
she also she said, “our contactless purchases and our digital approach buoy our recovery
Residential sales for the fourth quarter saw a “a healthy turnaround, albeit unexciting, boost. Costs demand for the middle-income housing also rose
It said the residential sales growth and amortization in the second half of the year have returned.
The business is on its way to buying 31 office buildings within the coming two years. FL owns 750,000 square meters in Metro Manila, Clark, and Cebu
For its CAPEX, FLI issued 3- to 5.5-year peso fixed-rate bonds in November with an oversubscription of 6.5x their fixed-rate. Bonds earned a AAA credit ranking
We are still sponsored by our banking partners, thereby helping us to create the Filipino dream while retaining our financial power.
FLI says it would work on finishing main office ventures in New Clark City, as well as housing construction in other locations around the world.
It will also be offered by Cyberzone Inc.’s publicly traded real estate subsidiary, which went public on Friday.
Ms. Yapico said, “Most of the 17 projects are accredited by the Philippine Economic Zone Authority in Filinvest City,”