Leasing, residential segments power FLI earnings

Filinvest Land Inc. (FLI), the property arm of the Gotianun family, recorded a modest five percent net income growth to P3.64 billion from January to September, fueled by strong real estate business and sustained leasing momentum from its retail and office investment properties.

- By RICHMOND MERCURIO

Revenues and other income jumped by nine percent year-on-year to P20.08 billion, supported by growth across all segments.

FLI's leasing revenues improved by seven percent to P6.13 billion on the back of steady tenant demand and improved occupancy across the company's office and retail mix.

Real estate revenues likewise grew by eight percent to P12.86 billion, driven by the strength of the company's residential business and continued contributions from industrial lot sales.

FLI president and CEO Tristan Las Marias said the company's focused rent strategies continue to bear fruit as seen on improved occupancy rates for its malls and offices.