- FLI reported 1H25 net income after tax at Php 2.12 billion
- Core revenues grew 6.0% YoY to PHP12.21 billion in 1H25, supported by stronger leasing performance and modest real estate growth
- Real estate sales increased by 1.3% YoY to PHP7.5 billion in 1H25, backed by steady collections, ongoing project completions, and contributions from industrial lot sales
- Office rental revenues grew by 8.0% YoY to PHP2.48 billion, lifted by new tenant sign-ups and an 11% increase in occupied gross leasable area (GLA), bringing total occupied space to 398,000 sqm.
- Mall rental revenues grew by 11.0% YoY to PHP1.32b in 1H25 (PHP680m in 2Q25, +14.0% YoY), driven by over 8,000 sqm of new tenant space opened in key locations such as Alabang, Dumaguete, and Quezon City during the quarter.
- Topline growth was augmented by cost efficiencies and improved profitability across segments. Residential gross profit margins increased to 53% (from 51% YoY), while office EBITDA margins improved to 64% (from 62%), and retail EBITDA margins rose to 56% (from 53%), aided by better occupancy and tenant mix.
Filinvest Land, Inc. (Filinvest Land/PSE: FLI), one of the country’s most trusted full-range property developers, reported Php 12.21 billion in consolidated revenues for the first half of 2025, up 6% from the same period last year. Net income rose 1% to Php 2.12 billion. The company’s performance was driven by sustained leasing momentum from its retail and office investment properties. Leasing revenues surged 12% to Php 4.10 billion, supported by steady demand across the company’s expanding office and retail portfolios. Real estate revenues are steady at Php 7.48 billion.
“Our focused efforts on targeted rent strategies and tighter cost controls have proven effective in boosting both occupancy and EBITDA, supporting the steady growth of our leasing business. We are optimistic that the upcoming openings of Filinvest Malls in Cubao and in Mimosa Leisure Estate in Clark will further drive this momentum. At the same time, we continue to push our residential developments in Visayas, Mindanao, and non-NCR Luzon regions, where we are seeing sustained demand,” said Tristan Las Marias, President and Chief Executive Officer of Filinvest Land, Inc.
Retail expansion gathers pace on strong occupancy and new tenant openings
Retail leasing revenues reached an all-time high of Php 1.32 billion in the first half of 2025, marking an 11% increase year-on-year. Growth was driven by the strong performance of anchor assets such as Festival Mall, alongside improved occupancy across regional malls including Il Corso in Cebu, Main Square in Bacoor, Fora Mall in Tagaytay, and the newly opened Filinvest Malls Dumaguete.
In the second quarter alone, over 8,000 square meters of tenant gross leasable area (GLA) commenced operations, while more than 10,000 square meters were signed for new leases. Total operational GLA across FLI’s retail portfolio now stands at 257,170 square meters.
Retail EBITDA margins improved to 56% from 53% year-on-year, reflecting operational efficiency, higher occupancy, and a more curated tenant mix across locations.
Office segment strengthens with higher occupancy and strategic tenant mix
Office leasing revenues, including contributions from both REIT and Non-REIT, grew by 8% to Php 2.48 billion. This was supported by an 11% increase in occupied gross leasable area (GLA), resulting to a total of 398,000 square meters. Among the company’s new office locators are Pinnacle Intelligence, a BPO based in the United States and Qatar Aviation Services.
EBITDA margins for the office segment improved to 64%, up from 62% in the same period last year, reflecting a more focused strategy on securing long-term leases with traditional corporates and government clients.
Industrial business as emerging anchor for the future
Filinvest Land’s industrial business has emerged as a promising growth engine, reflecting strong demand and rising investor interest in the Philippines as a manufacturing hub.
All nine Ready-Built Factories (RBFs) in the Filinvest Innovation Parks in Calamba and New Clark City are now fully leased, with a total gross leasable area of 21,956 square meters. This milestone underscores both the quality of FLI’s industrial offerings and the increasing confidence of foreign locators in the country’s industrial potential.
The segment contributed Php 153 million in revenues during the first half of 2025, comprising Php 133 million from the sale of an industrial lot and Php 20 million in recurring rental income.
With a long list of inquiries for both industrial lot sales in FIPC and mega lot lease hold sale in New Clark City, Filinvest Land remains confident in the sustained growth and scalability of this emerging business segment.
Residential real estate remains stable
Filinvest Land’s real estate sales remained stable at Php 7.48 billion, backed by project completions, steady collections, and sustained demand for ready-for-occupancy (RFO) units.
The middle-income segment, which forms the core of Filinvest Land’s residential portfolio, accounted for 70% of total residential revenues in the first half of 2025. Gross profit margins rose to 53%, up from 51% in the same period last year, while EBITDA reached Php 2.7 billion—2% higher year-on-year.
Looking at regional performance, Luzon, excluding areas in NCR, accounted for 37% of total option sales. This was primarily driven by strong take-up in New Leaf and Rosewood Place in Trece Martires, Sandia Homes in Batangas, and The Glens in San Pedro, Laguna. Meanwhile, Visayas and Mindanao also contributed another 37%, led by sustained demand in One Oasis and San Remo Oasis in Cebu, Maldives Oasis and 8 Spatial in Davao, and Futura Vinta in Zamboanga.
FLI continues to roll out inventory strategically. Its most recent launch is a new building at Maldives Oasis in Davao City, offering over 300 units and further strengthening its presence in high-growth urban centers.
Meanwhile, our Co-Living business, which involves a fully leased out The Crib Clark, remains a solid contributor, generating Php 136 million in rental income and is expected to remain firm for the coming months.
Filinvest Land honored at 2025 Stevie® Awards for Great Employers
Filinvest Land was recognized at the 2025 Stevie® Awards for Great Employers, earning a Bronze Stevie® for Employer of the Year in Real Estate—the only Philippine real estate company to receive this global recognition, joining the ranks of IBM and DHL. This comes on the heels of being named one of the Philippines’ Best Employers for 2025 by the Philippine Daily Inquirer and Statista, reaffirming its people-first culture.
FLI’s award-winning, data-driven HR strategy has delivered results: a 95% on-time hiring rate, 97% job offer acceptance, and 45+ training hours per employee. Women now comprise over half of its leadership pipeline, supported by strong wellness programs, full HMO coverage, and 100% participation in its internal feedback platform, Filinvest Listens.
“We grow because our people grow,” said President and CEO Tristan Las Marias. “Their passion fuels our mission of building lasting dreams for Filipinos.”
The win is part of a broader milestone for the Filinvest Group, with parent firm FDC also securing multiple Stevie® wins in leadership, recruitment, and organizational culture.
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