Filinvest Land, Inc. (Filinvest Land/PSE: FLI), one of the country’s largest property developers, reported a consolidated net income attributable to parent of Php1.54 billion for the first half of 2024, an 11% increase from the previous year. Gross profit margins from the residential business, FLI’s core business segment, significantly improved by 8% to 51% from 43% the year before. Consolidated EBITDA rose 24% year-on-year to Php4.98 billion, while operating income grew 26% to Php4.18 billion.
In the first half of 2024 alone, Filinvest Land launched 10 new projects, including completely new developments, as well as sequel buildings and phases of existing ones. Total consolidated revenues and other income grew by 16% from the previous year to Php11.49 billion, bolstered by a noteworthy double-digit rise in residential real estate sales, in addition to increasing revenues from retail and The Crib co-living spaces in New Clark City.
“Our robust first half results show that Filinvest Land’s residential business continues to thrive. FLI delivered strong growth amidst the current interest rate environment. We achieved this through the continued strength of our brand, known for value-for-money homes in well-rounded communities across the Philippines. We continue to enhance our product offerings to cater to higher aspirations, steadfast in our mission to build the Filipino dream,” said Tristan Las Marias, FLI President and Chief Executive Officer
“FLI’s leasing segments continue to be value-adding complements to our business. We are working to enhance our shopping centers with world-class brands and to open new malls in underserved population hubs. In addition, we remain a trustworthy partner in nation-building as more government agencies lease our premier office spaces to deliver better public services,” Las Marias continued.
For more information, please visit their website on this link: https://filinvestland.com/.
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Filinvest Land, Inc. (Filinvest Land/PSE: FLI), one of the country’s largest property developers, reported a consolidated net income attributable to parent of Php1.54 billion for the first half of 2024, an 11% increase from the previous year. Gross profit margins from the residential business, FLI’s core business segment, significantly improved by 8% to 51% from 43% the year before. Consolidated EBITDA rose 24% year-on-year to Php4.98 billion, while operating income grew 26% to Php4.18 billion.
In the first half of 2024 alone, Filinvest Land launched 10 new projects, including completely new developments, as well as sequel buildings and phases of existing ones. Total consolidated revenues and other income grew by 16% from the previous year to Php11.49 billion, bolstered by a noteworthy double-digit rise in residential real estate sales, in addition to increasing revenues from retail and The Crib co-living spaces in New Clark City.
“Our robust first half results show that Filinvest Land’s residential business continues to thrive. FLI delivered strong growth amidst the current interest rate environment. We achieved this through the continued strength of our brand, known for value-for-money homes in well-rounded communities across the Philippines. We continue to enhance our product offerings to cater to higher aspirations, steadfast in our mission to build the Filipino dream,” said Tristan Las Marias, FLI President and Chief Executive Officer
“FLI’s leasing segments continue to be value-adding complements to our business. We are working to enhance our shopping centers with world-class brands and to open new malls in underserved population hubs. In addition, we remain a trustworthy partner in nation-building as more government agencies lease our premier office spaces to deliver better public services,” Las Marias continued.
For more information, please visit their website on this link: https://filinvestland.com/.
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