FLI home, apartment sales rise in the first half

Filinvest Land Inc. said. (FLI), the real estate developer led by Gotianun, said sales of condominiums and condominiums rose 30 percent in the first half, with total option sales coming in at 9.1 billion pesos.

“We are pleased to see our sales volume increase to pre-pandemic (levels) and we are pleased to see the sales growth recorded in nearly all the provinces in which we operate. We have invested in building larger distribution channels both domestically and overseas to reach More customers and support for our expansion activities, and it’s paying off.”

For the first half, the company said it posted 7 percent growth in consolidated and other revenue to 9.1 billion pesos from 8.31 billion last year.

However, the first semester revenue was lower than the P9.3 billion that the company recorded in 2020.

FLI said its residential revenue grew 10 percent to 5.8 billion pesos, while its retail rental revenue grew 53 percent from a year ago.

Residential and retail rental income contributed 72 percent of the company’s revenue, while office leasing and sales of industrial projects contributed the remaining 28 percent.

The company has yet to release its income numbers, saying only that its consolidated earnings before interest and taxes also grew 5 percent from the previous year.

FLI said the growth in residential revenue was due to accelerated construction progress and strong performance of housing projects in Cavite, Laguna and Rizal and mid-rise apartment projects in Metro Manila and Davao.

Meanwhile, the company attributed the increase in retail rental income to improvement in occupancy of its malls and cancellation of rental concessions.

Filinvest Land said it has launched new condominium projects in Dagupan City, Zamboanga City and new apartment buildings in the existing apartment communities of Davao City, Cagayan De Oro, Cebu City and Metro Manila.

The expansion phases of housing and subdivision projects have also opened in Pampanga, Rizal and Cavite. FLI said it will be putting up about 14 billion pesos in new launch and expansion projects for the rest of the year.

“Our economy is buzzing again and our remittances to overseas workers are stronger than ever. We are seeing a strong recovery from all our business sectors, and we aim to leverage our broad geographic presence to capture unserved and emerging real estate demand as business continues to open in,” said Las Marias. country”.

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