FLI earnings up 2% to P3.8 billion in 2021

MANILA, Philippines — Filinvest Land Inc., the listed property unit of the Gotianun Group, reported a net income of P3.8 billion last year, up two percent from 2020.

FLI booked reservation sales of P16.04 billion, five percent higher than the previous year.

“We are also grateful for the trust of the investor market in Filinvest Land. This allowed us to undertake successful fundraising activities in the past year. These funds will allow us to accelerate the implementation of our expansion plans and continue building the Filipino dream,” said FLI president Josephine Gotianun-Yap.

FLI launched P6.7 billion worth of residential projects around the country, including Metro Manila, Pampanga, Cagayan de Oro and Davao. The developer also entered Dagupan, Pangasinan last year.

“We are happy with the results of our digital transformation that made our business more accessible to sales networks and clients here and abroad. As we accelerate our construction pace and execute faster on our expansion plans, we expect to sustain our growth momentum throughout 2022 and beyond,” said Tristan Las Marias, FLI chief strategy officer and Residential Business head.

FLI was also included in the newly launched PSE MidCap Index last March 28.

The index is designed to capture the performance of mid-sized companies in the Philippine market.

The constituents are selected based on market capitalization, liquidity, financial and free float.

Gotianun Yap was named Asia CEO’s Global Executive of the Year Circle of Excellence awardee.

FLI received P12.58 billion in proceeds from the successful initial public offering (IPO) of Filinvest REIT Corp. (FILRT), which will be used to finance its office, industrial, retail, and residential projects as specified in its reinvestment plan.

The company also successfully raised P10 billion from a bond issuance in December last year.

The company’s portfolio includes large-scale townships including the 306-hectare Havila, the 677-hectare Timberland Heights and the 60-hectare Manna East in Rizal; the 350-hectare Ciudad de Calamba in Laguna and the 50-hectare City di Mare in Cebu and the 51-hectare Palm Estates in Talisay City in Negros.