For nearly three decades, Forest Lake has remained steadfast as the country’s leading memorial park developer, driven by its commitment to compassionate care, innovative services, and a customer-first approach. With 37 operational parks across Luzon, Visayas, and Mindanao, the company continues to pioneer the deathcare industry.
Since its founding in 1997 with memorial parks in Zamboanga and Iloilo, Forest Lake has consistently expanded its footprint. From 2005 to 2015, the company doubled its park network, further adding eight new locations between 2021 and 2023. Last year, Forest Lake surpassed Php 3 billion in sales, marking a significant milestone in its growth journey.
With its mission of providing “A Better Place” for families to honor and celebrate their loved ones, Forest Lake’s continued expansion sets a benchmark for developers in the Philippines.
In 2023, Forest Lake achieved total revenues of Php 2.47 billion, a 12% increase from Php 2.17 billion in 2022, fueled by rising demand for memorial lots, the launch of new parks, and enhanced collection efficiency. Sales revenues also surged by 18.2%, reaching Php 2.04 billion, while interment revenues saw an 11% rise to Php 210 million.
Forest Lake’s profitability has followed suit. The company’s net income before tax climbed by 15%, from Php 527.8 million in 2022 to Php 607.2 million in 2023. Earnings before interest, taxes, depreciation, and amortization (EBITDA) grew from Php 608 million to Php 733.3 million, pushing profitability up from 28% to 30%.
Additionally, the company’s assets increased by 20%, supported by a 51% rise in cash reserves and a 31% boost in sales receivables. Total equity expanded by 18%, backed by a 48% increase in issued capital stock and a 25% growth in retained earnings.
“We have our core values to thank for our stature in the industry: Personalized Service, Value Creation, Teamwork, Innovation and Creativity, and Professionalism,” says Alfred Xerez-Burgos III, President and CEO of Forest Lake Development Inc. “These values have always guided us in everything we do and have led us to provide the best kind of care to the families we serve.”
Forest Lake remains dedicated to its vision of building a space where family memories are cherished and celebrated. Its comprehensive product and service offerings cater to the diverse needs of its clients, from standard, premium, and special premium Lawn Lots priced between Php 50,000 and Php 250,000, to Estate Lots designed for above-ground interment ranging from Php 720,000 to Php 3 million per block.
In addition to burial lots, Forest Lake offers a full suite of funeral services, including burial setup, funeral arrangements, and preparation, all designed to create a seamless experience for families. The company’s “Libing Anywhere” feature allows customers to use their memorial lots in any Forest Lake park nationwide, while the “Libre Burol” feature offers free funeral services with each interment.
Since 2015, Forest Lake has expanded its offerings by adding chapel services, beginning with its Biñan park. Chapels are currently under construction in Iloilo, set for completion soon, providing comprehensive care from body retrieval to casketing, viewing services, and the use of a hearse.
Each Forest Lake park is thoughtfully designed with aesthetics and convenience in mind, featuring well-manicured lawns, Mediterranean-inspired gates, and amenities like well-maintained restrooms, drainage systems, park lighting, and 24-hour security.
“Our many years of commitment to innovation and customer satisfaction made us the industry leader that we are today,” adds Xerez-Burgos III. “We assure our present and future customers that we will continue this legacy and provide them the highest standard of care.”
As Forest Lake celebrates its leadership in the industry, it invites everyone to stay connected and updated through Facebook and Instagram at @forestlakememorialparks.
