Filinvest Land expects robust growth in occupancy this year

FILINVEST Land, Inc. expects robust occupancy growth for the year as it aims to build back its revenue streams amid higher demand for its non-real estate investment trust (REIT) assets, the company’s top official said during its annual stockholders’ meeting on Monday.

“We have seen an increase in demand in 2023 for our non-REIT assets given their strategic locations, and [we] are confident of occupancy recovery by 2024,” Filinvest Land Chief Executive Officer Lourdes Josephine Gotianun-Yap said in a briefing.

“We have set our priorities going forward. Our first order of business would be to build back revenue streams to pre-pandemic levels on our growing asset base,” Ms. Gotianun-Yap added.

She said that the company aims to return to its pre-pandemic compounded annual growth rate for its residential and rental businesses. These segments reported pre-pandemic growth of 17% and 21%, respectively.

Additionally, Filinvest Land President Tristaneil D. Las Marias said that the company will renew its focus on its estate and township developments.

“We are designing [them] to accommodate different land uses from residential and commercial, even industrial, and institutional land use. This approach will allow us to create fully integrated and self-sufficient communities, catering to the diverse needs of our customers,” Mr. Las Marias added.

These will mostly be located within the company’s 2,356-hectare land bank.

Meanwhile, the company aims to construct ready-built factories for its industrial segment, which might be located in Calamba, Laguna and in New Clark City. The company aims to finish construction by the third quarter of 2023.

“We are designing our large-scale integrated projects to become the stage for new and relevant products that will catalyze progress in the community where we are present,” he said.

Shares in Filinvest Land on Monday went up by 1.32% or 10 centavos to close at P0.77 each. — Adrian H. Halili