Filinvest Land to launch 22 projects this year


Posted at May 07 2014 12:45 PM | Updated as of May 07 2014 08:45 PM

MANILA, Philippines - Filinvest Land Inc., the property development arm of the Gotianun-led Filinvest Development Corp., is planning to launch 22 projects this year worth P17.5 billion.

In an interview on [email protected], Filinvest Land CEO Josephine Gotianun-Yap said most of these projects will be in the affordable and mid-income housing segments.

In 2013, FLI reported a net income of P4 billion, 14 percent higher than the P3.5 billion it posted in the previous year. The company attributed the increase in profits to the 16% jump in total revenues from its residential, office and commercial business units to P13.6 billion in 2013.

Gotianun-Yap said the company's revenues have been growing at a compounded annual rate of 25% in the last five years.

"We have a 3-pronged approach as far as housing is concerned. We have 3 product lines - Futura Homes for affordable housing, mid-rise buildings for the Oasis brand and high-rise buildings. We have different products to meet the different lifestyles," she said.

The FLI chief said the affordable housing segment has been seeing significant growth. "We have been expanding our affordable brand, not just in the greater Metro Manila area but as well as other areas of Luzon, Visayas and Mindanao," Gotianun-Yap said.

Asked about the company's first quarter earnings, Gotianun-Yap said, "so far we are on track with our projections which is between 15-20 percent range."

FLI will release its first quarter earnings report on May 12.