Filinvest Land Inc. (FLI) – Author Carlo Carrasco

Festival Mall acquisition boosts FILRT growth and portfolio size

August 17, 2025August 8, 2025carlocarrasco

Remember when Filinvest REIT Corp. (FILRT) acquired Festival Mall for P6.26 billion months ago? Already the premier Alabang shopping mall has boosted the earnings and portfolio size of FILRT, according to a business news report by the Manila Bulletin.

For the newcomers reading this, read my previous posts about Festival Mall (which first opened in May 1998) and FILRT by clicking here, here and here. FILRT meanwhile is reputed for being one of the top taxpayers in Muntinlupa City.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

Filinvest REIT Corp., the real estate investment trust of the Gotianun Group, declared ₱404 million in fresh dividends after reporting an 8.3 percent growth in net income to ₱651 million in the first six months of 2025 from ₱601 million in the same period last year.

The firm disclosed to the Philippine Stock Exchange that, for the first half of the year, it recorded revenues of ₱1.57 billion, higher by 13 percent from the same period in 2024, resulting from improvements in operations and the addition of Festival Main Mall to the portfolio.

Meanwhile, costs and expenses were contained at ₱613 million, higher by one percent, while other charges were lower by four percent to ₱187 million.

Festival Main Mall started accruing to the revenue stream of FILRT beginning May 29, 2025, equivalent to one month and three days’ revenue contribution.

The addition of Festival Main Mall is seen to improve FILRT’s earnings per share by 5.5 percent in 2025. With the additional asset, FILRT’s portfolio size increased by 37 percent in terms of GLA to 452,310 square meters.

“We are pleased to have infused a value-adding asset into our portfolio through Festival Main Mall. Having this momentum, we look forward to adding more assets and diversifying our tenant base to further the growth of the company,” said FILRT President and CEO Maricel Brion-Lirio.

The company’s portfolio of 17 office buildings, one mall, and one resort lot totaling 452,310 square meters had an occupancy of 86 percent at the end of the first half of 2025, an improvement of five percentage points from 81 percent in June last year.

The current overall tenant mix is comprised of 60 percent offices, 32 percent retail, and the balance for hospitality. Of the offices segment, 84 percent are multinational BPO companies while 16 percent are traditional.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think FILRT will somehow improve the quality of Festival Mall in terms of structure and tenants? Was it a surprise that Festival Mall boosted the earnings of FILRT this early?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Thank you for reading. If you find this article engaging, please click the like button below, share this article to others and also please consider making a donation to support my publishing. If you are looking for a copywriter to create content for your special project or business, check out my services and my portfolio. Feel free to contact me with a private message. Also please feel free to visit my Facebook page Author Carlo Carrasco and follow me on Twitter at @HavenorFantasy as well as on Tumblr at https://carlocarrasco.tumblr.com/ and on Instagram at https://www.instagram.com/authorcarlocarrasco

For more South Metro Manila community news and developments, come back here soon. Also say NO to fake news, NO to irresponsible journalism, NO to misinformation, NO to plagiarists, NO to reckless publishers and NO to sinister propaganda when it comes to news and developments. For South Metro Manila community developments, member engagements, commerce and other relevant updates, join the growing South Metro Manila Facebook group at https://www.facebook.com/groups/342183059992673

PLDT Moving Headquarters to Filinvest City

July 5, 2025October 22, 2025carlocarrasco

In relation to the Filinvest Group’s strong confidence with its Alabang central business district (CBD), it has been revealed that telecommunication giant PLDT will relocate its headquarters to the Southgate District of Filinvest City in Alabang, according to a Manila Bulletin news report.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient. PLDT itself has its current headquarters in Makati City which has lasted for decades. This new development with Filinvest City adds potential business value to Alabang. It should be noted that Filinvest City also has its own local residents.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

Filinvest City, the premier township developed by the Filinvest Group, is poised for a transformation with the announcement that PLDT Inc., the nation’s largest integrated telecommunications company, will relocate its headquarters to the Southgate District of Filinvest City.

This strategic move, which involves the development of the country’s first tech campus, signals a game-changing moment for the Garden City, paving the way for a smarter, greener, and more connected urban landscape in Metro South.

The decision to move was revealed in a press statement from Filinvest City, noting that PLDT’s choice of Filinvest City followed years of careful study and strategic planning.

The planned five-hectare PLDT campus, envisioned as the future headquarters for the telecommunications group, is slated for progressive development, with initial phases expected to commence soon.

The project draws inspiration from leading global tech campuses and reflects PLDT’s long-term commitment to fostering an innovative and future-ready workplace.

This campus is part of our effort to build a healthier, more collaborative work environment, said PLDT Chairman and CEO Manuel V Pangilinan. He added that it reflects our belief that the workplace must evolve alongside the industries we serve. We hope it will inspire creativity, encourage teamwork, and support the future of PLDT.

The tech campus is designed not only as a headquarters but also as a hub for innovation, collaboration, and digital transformation, aiming to consolidate talent and technology to cultivate a culture of agility and forward-thinking.

This aligns with PLDT’s dedication to shaping the future of connectivity in the Philippines. The development is projected to create thousands of jobs during both construction and operational phases, boosting demand for residential and commercial spaces and supporting local businesses and startups.

It is also expected to attract professionals and innovators to Metro South, reinforcing Filinvest City’s role as a nexus for future-forward enterprises.

Josephine Gotianun-Yap, Vice Chairperson, Filinvest Development Corporation, noted the transformation of Filinvest City from a quiet stock farm into a vibrant garden metropolis, stating that this was achieved through vision, dedication, and a steadfast sense of purpose. She also said, Filinvest City was designed with intention: to foster an environment where businesses thrive, innovation flourishes, and people live well. We believe a great city is not simply a backdrop to success—but a catalyst for it.” She further added that Filinvest remains committed to continued growth and meaningful collaboration, especially with PLDT, as it pursues its mission to empower Filipinos through meaningful connections, digital inclusion, and sustainable progress.

This landmark project reinforces Filinvest City’s commitment to sustainable and integrated urban planning. As the country’s only central business district holding both LEED Gold and BERDE certifications, Filinvest City is recognized for its green building standards and environmentally responsible design. The city’s master plan embraces the live-work-play philosophy, ensuring a holistic urban experience for its residents, workers, and visitors.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you think PLDT’s upcoming headquarters in Alabang will create many new jobs and add value to Filinvest City as business and investment destination? Do you think this new development will influence other major corporations to consider establishing new headquarters in Alabang? Do you consider Muntinlupa City a more competitive highly urbanized city (HUC) in relation with PLDT’s upcoming Alabang headquarters?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Filinvest Group still optimistic with Alabang central business district

June 29, 2025October 22, 2025carlocarrasco

Even though there are emerging rivals that each have distinctive attractions for businesses and residents, the Filinvest group remains confident and optimistic with its 244-hectare Filinvest City in Alabang, Muntinlupa, according to a business article by BusinessWorld. This is about the current state of corporate cities or central business districts (CBDs) which are contributing a lot to the economy of the Philippines in terms of financial value, jobs, properties and new residential communities.

For the newcomers reading this, Filinvest City is located within the Alabang area of Muntinlupa City, and it is connected with both the South Luzon Expressway (SLEX) and the Metro Manila Skyway (which itself is connected to the NAIA Expressway and the North Luzon Expressway) which makes travel connectivity convenient.

To put things in perspective, posted below is the excerpt from the business article of BusinessWorld. Some parts in boldface…

THE FILINVEST group is banking on unsold inventory and infrastructure readiness at its 244-hectare Filinvest City in Alabang, Muntinlupa to support growth in its township portfolio, as new large-scale developments emerge in Metro Manila and nearby provinces.

Catherine A. Ilagan, president and chief executive officer of Filinvest Alabang, Inc. (FAI), said Filinvest City continues to attract interest from businesses and residents, even as estates such as the 3,500-hectare Villar City, the 700-hectare Vermosa in Cavite, and the 74-hectare Arca South in Taguig expand their footprints.

“We’re the most developed. We have the essentials to back it up. We have the infrastructure and all of the utilities. All of that are already in place. Accessibility is also key. We also have access to talent,” Ms. Ilagan said in an interview with BusinessWorld.

“It takes a long time to develop into a real central business district (CBD),” she added.

FAI is the real estate arm of the Filinvest group, overseeing townships and high-end residential developments.

“In terms of densifying, there’s still a lot of potential for Filinvest City. The outlook for Filinvest City is really positive,” Ms. Ilagan said.

“The release of inventory is very deliberate,” she added.

According to a regulatory filing by the Filinvest group’s listed conglomerate, Filinvest Development Corp. (FDC), FAI beneficially owns 76.4 hectares of unsold lots in Filinvest City as of end-2024, indicating further growth capacity.

Launched in 1995, Filinvest City is a mixed-use township that integrates a CBD, residential communities, leisure destinations, educational institutions, and medical and wellness centers.

It is the country’s only CBD to hold both Leadership in Energy and Environmental Design (LEED) and Building for Ecologically Responsive Design Excellence (BERDE) certifications.

“The LEED and BERDE certifications are testaments to Filinvest City being a green development,” Ms. Ilagan said.

Filinvest City’s sustainability features include a district cooling system that reduces energy use and emissions by servicing multiple buildings, an integrated electric-powered transport system known as the 360 Eco-Loop, and dedicated green spaces and sustainable buildings in Northgate Cyberzone.

Under Ms. Ilagan’s leadership, FAI is replicating the Filinvest City model in other areas as it grows its portfolio of master-planned, sustainable townships and premium real estate developments under the Filigree brand.

Ms. Ilagan brings more than 30 years of experience in real estate and urban development.

“Filinvest City is a ten-minute city. Everything can be reached in ten minutes. This is the DNA that we want to replicate in the other townships,” Ms. Ilagan said.

“We’ve always subscribed to the idea of a balanced live-work-play. That’s the DNA of all of our townships, a well-rounded and balanced development,” she added.

Other FAI-led townships include the 58-hectare City di Mare in Cebu, the 201-hectare Filinvest Mimosa Plus in Clark, Pampanga, the 288-hectare Filinvest New Clark City in Tarlac, and the 677-hectare Timberland Heights in Rizal.

“Whether it’s a small development, a bigger development, a high development, or a denser development, there should always be that balance of live-work-play components. As a real estate developer, that is the sustainable way to do things. Now, we want everything to be walkable,” Ms. Ilagan said.

Let me end this post by asking you readers: What is your reaction to this recent development? What do you think that Villar City, Arca South and Vermosa don’t have when compared with Filinvest City? If you are developing properties, do you find Filinvest City advantageous and attractive for your business needs?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

SEC approves P6.26 billion deal between Filinvest Land and FILRT, Festival Mall ownership included in deal

June 5, 2025May 30, 2025carlocarrasco

Following the huge deal between Filinvest Land. Inc. (FLI) and Filinvest REIT Corporation (FILRT) and the deed of exchange signed by the two corporations over the ownership of Festival Mall, the Securities and Exchange Commission (SEC) officially approved the P6.26 billion deal putting it closer to completion, according to a Manila Bulletin business news report.

To put things in perspective, posted below is the excerpt from the news report of Manila Bulletin. Some parts in boldface…

The Securities and Exchange Commission has approved the valuation of the ₱6.26 billion property of Filinvest Land Inc. to be acquired by Filinvest REIT Corporation (FILRT) via an asset-for-share swap, putting it a step closer to completion.

In a disclosure to the Philippine Stock Exchange, FILRT said it has received from the SEC the Certificate of Approval of Valuation for its property-for-share swap with FLI under which LI will transfer its ownership over the Festival Mall – Main Mall, consisting of a building and certain machinery and equipment in favor of FILRT.

Festival Mall-Main Mall which is located in Filinvest City, Alabang, Muntinlupa City, consists of a building with gross leasable area of 121,862 square meters.

In return, FILRT will issue to FLI 1.63 billion primary common FILRT shares at an issue price of ₱3.85 per share under the Memorandum of Agreement and the Deed of Exchange both dated March 5, 2025.

The Transaction Price was set at a 30 percent premium over FILRT’s 30-day volume-weighted average price of ₱2.94 per share, which is within the range of fair values provided for in FTI Consulting Philippines, Inc.’s Fairness Opinion.

FILRT’s Related-Party Transaction Committee and Board of Directors unanimously approved the Transaction at their special meeting on January 24, 2025, and it was subsequently approved by FILRT’s stockholders during their special meeting on March 4, 2025.

The acquisition of the Property will increase FILRT’s total gross leasable area by 37 percent to 452,310 sq.m. This likewise will improve occupancy from 83 percent to 88 percent and extend the weighted average lease expiry (WALE) from 7.3 to 14.6 years. This will also increase FLI’s equity in FILRT from 51.06 percent to 63.27 percent.

The Transaction allows FILRT to diversify its income sources by integrating retail mall properties into its portfolio. Prior to the infusion, 91 percent of the GLA of FILRT are office buildings.

Post infusion, the portfolio mix of FILRT will be 67 percent offices, six percent hospitality (Crimson Boracay lot) and 27 percent retail (Festival Main Mall).

The infusion of income-generating retail mall assets is expected to result in an increase in FILRT’s distributable income.

Let me end this post by asking you readers: What is your reaction to this recent development? With the approval of the SEC, do you think the big deal between FLI and FILRT will be beneficial not only for the parties and shareholders involved, but also for those who spend time and money at Festival Mall? Did you notice any trends or serious changes at Festival Mall since FILRT became the new owner?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Deed of exchange for Festival Mall signed

March 28, 2025March 20, 2025carlocarrasco

Festival Mall – the popular shopping mall in Filinvest City in Alabang – is now fully owned by Filinvest REIT Corp. (FILRT) as the deed of exchange with Filinvest Land, Inc. (FLI) has been formally signed recently, according to a BusinessWorld news report. Previously it was reported that the value of the transfer of ownership was worth over P6 billion.

To put things in perspective, posted below is the excerpt from the news report of BusinessWorld. Some parts in boldface…

FILINVEST REIT CORP. (FILRT) has executed a deed of exchange with its parent company and sponsor, Filinvest Land, Inc. (FLI), for the transfer of ownership of Festival Mall in Alabang, Muntinlupa City.

The two companies executed the memorandum of agreement and the deed of exchange on March 5 as part of a P6.26-billion property-for-share swap transaction, FILRT said in a regulatory filing on Thursday.

Under the transaction, FILRT will issue 1.63 billion shares at P3.85 each to FLI in exchange for the ownership of the 121,862-square-meter (sq.m.) main mall of Festival Mall. The addition of Festival Mall will increase FILRT’s total gross leasable area by 37% to 452,310 sq.m.

The deal expands FILRT’s portfolio into the retail mall segment. Previously, its portfolio consisted of 17 office buildings and 2.9 hectares of land leased to the owner and operator of Crimson Resort & Spa Boracay.

Following the addition of Festival Mall, FILRT’s portfolio mix will comprise 67% offices, 6% hospitality, and 27% retail.

Let me end this post by asking you readers: What is your reaction to this recent development? Do you hope to see improvements or expansion projects at Festival Mall now that it has a new owner? Do you think FILRT will come up with new office buildings in close proximity to Festival Mall within the next ten years?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

Ownership of Festival Mall transferring to Filinvest REIT Corporation (FILRT) for over P6 billion

February 4, 2025January 27, 2025carlocarrasco

Have you been to Festival Mall in Alabang lately? Some things might change in the near future as the ownership of the shopping and lifestyle mall (first opened in May 1998 as Festival Supermall) is being transferred by the Gotianun Group to Filinvest REIT Corporation (FILRT) in a deal worth more than P6 billion, according to a Manila Bulletin business news report.

To put things in perspective, posted below is the excerpt from the Manila Bulletin business report. Some parts in boldface…

The Gotianun Group is transferring ownership of its flagship Festival Mall-Main Mall in Filinvest City, Alabang, Muntinlupa City to Filinvest REIT Corporation (FILRT) in a P6.26 billion deal that marks the real estate investment trust’s entry into the retail leasing business.

In a disclosure to the Philippine Stock Exchange, Filinvest Land Inc. (FLI) said it is selling the 26-year-old Festival Mall to FILRT in exchange for 1.63 billion FILRT shares at an issue price of P3.85 per share under a tax-free property-for-share swap transaction.

“The transaction fulfills FLI’s commitment as the sponsor of FILRT to continually support the growth and expansion of its REIT portfolio through the infusion of high-quality income-generating real estate assets,” FLI said.

It added that, upon the Securities and Exchange Commission’s (SEC) approval of the transaction, FLI and FILRT shall execute a lease agreement for the building.

In a separate disclosure, FILRT said the issue price represents a 30 percent premium over the 30-day volume weighted average price of P2.94 per FILRT share, and falls within the fair value price range provided by FTI Consulting’s Fairness Opinion and LeeChiu Property Consultants, Inc.’s Valuation Report.

The property was appraised by Leechiu Property Consultants, and a fairness opinion was provided by FTI Consulting. A discounted cash flow (DCF) approach was used as the primary method to determine the value of the property.

Under the DCF approach, the future cash flows of the property were discounted using a weighted average cost of capital (WACC) based on a capital asset pricing model. A direct capitalization approach was also used as a secondary reference for the valuation of the property.

For the valuation of the shares, FTI Consulting used various methodologies such as the DCF approach, a dividend discount model, and a comparable public companies’ method, to arrive at a range of values for the fair value of FILRT shares.

The primary common shares to be issued by FILRT to FLI will come from the unissued common shares of FILRT. This will be subject to the approval by FILRT’s shareholders and regulatory approvals.

Upon the SEC’s approval of the transaction, FLI and FILRT shall execute a lease agreement for the property.

“Pursuant to the approval of the transaction, the Board approved the conduct of a special stockholders’ meeting (SSM) to be held on March 4, at 10:00 AM. The record date for the determination of stockholders entitled to notice and right to vote at the SSM is February 10, 2025,” the firm said.

FILRT’s diversification into mall leasing comes after its expansion into the hospitality space with the acquisition of 2.9 hectares of land owned by Filinvest Development Corporation (FDC) in Boracay Island for P1.05 billion in cash.

The land is being leased by Boracay Seascapes, Inc. (BSI), the building owner of Crimson Resort & Spa Boracay and a subsidiary of FDC.

FILRT President and CEO Maricel Brion-Lirio said this is the company’s first asset infusion since its initial public offering and “not only increases the distributable income to our shareholders in the immediate term but also supports our goal of delivering stable dividends and increasing the potential for capital appreciation in the longer term.”

Let me end this post by asking you readers: What is your reaction to this recent development? If you are a resident of Muntinlupa City who happens to be a frequent visitor or shopper of Festival Mall, do you think the incoming, new owners will be able to make improvements on the mall somehow? Do you hope that the original cinemas of Festival Mall will get renovated and reopened with the latest cinema technologies in the future?

You may answer in the comments below. If you prefer to answer privately, you may do so by sending me a direct message online.

+++++

	Shaman Tiers on A Look Back at Fatale #1 …
	Luke on Trump Administration Weighs Hi…
	Instapundit »… on Trump Administration Weighs Hi…
	Roaming Rhonda on Christian Music Appreciation:…
	Instapundit »… on Trump Administration Rescued O…

Share this:

Share this:

Share this:

Share this:

Share this:

Share this: