Filinvest Land eyes Q3 completion of industrial parks

By Ed Paolo Salting | The Manila Times
April 25, 2023

REAL estate developer Filinvest Land Inc. is targeting to complete the development of all its industrial parks by the third quarter of this year.

Filinvest Land President Tristan Las Marias said this during the company’s annual stockholders’ meeting on Monday where he also declared that the company remained upbeat about growth because of resilient demand.

“For our industrial segment, the construction of ready-built factories is underway in all of our Innovation Parks, 4 of which are in Ciudad de Calamba and 2 in New Clark City,” Las Marias said.

“For residential markets, we believe that the Metro Manila market will continue to grow, especially now that most companies have required employees to work on-site, and that most schools and universities have required students to return back to campus,” he added.

Las Marias said the firm would continue developing residential, commercial and retail projects, particularly those that cater to middle and high-end sectors.

“Meanwhile, there is some cadence value to develop outside the greater Metro Manila area and benefit from the competitive advantage of one of the early developers to establish housing and medium-rise condos in central business districts in the Visayas, Mindanao, and Central Luzon areas,” he added.

Las Marias also noted that the mall business looked promising as revenge spending was increasing sales and foot traffic.

“We will continue to expand our mall business, and we see opportunities for this to prime our townships and provide the much-needed retail component to complement the requirement of our residential and office businesses,” he said.

Lastly, the office leasing business is expected to also grow due to increased take-up despite the work-from-home (WFH) setups of some outsourcing firms.

Filinvest Land’s share price went up by a centavo to P0.77 on Monday.