FIlinvest Land Inc., the property development unit of the Gotianun family, is bent on rebuilding its revenue stream back to pre-pandemic levels by boosting its residential, commercial and office leasing businesses.
FLI chief executive Lourdes Josephine Gotianun-Yap said during the company’s annual stockholders meeting Monday that while revenues and pre-tax earnings posted year-on-year growth in 2022, the attributable net income was still lower than a year ago.
Yap said, however, that the company saw a significant increase in demand from rental assets and expected occupancy to fully recover by 2024.
“We have set priority, [and] the first program is to build back revenue stream to pre-pandemic levels on our growing asset base. The last decade before the pandemic, we grew our residential business at compounded annual growth rate of 17 percent and rental business at a compounded annual growth rate of 21 percent. We aim to get back on this track,” Yap said.
FLI president Tristaneil Las Marias said the group renewed its focus on developing township projects which would enable it to develop more residential, commercial and industrial projects. “This allows us to create fully-integrated and self-sufficient communities, catering to the diverse needs of our customers,” Las Marias said. Jenniffer B. Austria