Filinvest Land Inc., the real estate unit of the Gotianun family, said Friday it plans to venture into new businesses, including logistics and e-commerce warehouses and co-living spaces, to boost recurring income.
FLI president and chief executive Josephine Gotianun-Yap said during a virtual annual stockholders’ meeting the company would spend P16 billion in 2021. Of the programmed capital expenditures, P6.4 billion will be allotted for residential developments, P5.8 billion for office developments, and P3.8 billion for retail, logistics/innovation parks and land acquisition.
“In 2021, we are moving forward and embarking on new initiatives such as logistics and e-commerce warehouses and co-living spaces. These initiatives address new trends that will define our future and will widen the base of our investment properties for recurring income,” Gotianun-Yap said.
“We are also planning our entry into the REIT market, a new financial platform to monetize investment assets as they mature and provide funding to fuel future growth,” she said.