FLI - Filinvest Land and related Co's

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FILRT vs. FLI, TLT : Mar'20: Aug'22:

FILrt-etc / FilinvestREIT: ALL: Last: P 4.95 -0.01.  / FIL: 0.74 +0.02 : R-6.69x

FILrt-etc

FLI- 0.77 / FILRT- 5.18= 14.9%, /TLT : 106.29 : 0.72%, 4.87%

FLI/ Filinvest: All: 2008: 2020: +Etc-Mar.'21: Oct.'21: Aug'22: 10d/. Last: 0.84 -0.01. (Range: 0.73 to 1.12 )

FLI versus other Prop-co's: ROCK, ALI, CDC ... Areit-etc: update: 10d:

 

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FAM vs. TLT ... from-Jul'22 :

 

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FILrt-etc / FilinvestREIT : Last: P 4.95 -0.01.  / FIL: 0.74 +0.02 : R-6.69x

FILRT:

FILRT - Filinvest REIT, Corp.

C03928: Filinvest REIT press release - 1

"Filinvest REIT Corp. (FILRT) records 17% net income growth QoQ to P304 million"

May 16, 2023 – Filinvest REIT Corp. (FILRT), the flagship commercial REIT of the Filinvest group, recorded a net income of P304 million in the first quarter of 2023 on the back of rental and other revenues of P801 million. On a sequential basis comparing the first quarter results from the fourth quarter of 2022, net income rose by 17 percent as a result of a 5 percent improvement in rental revenues and a 13 percent reduction in operating costs. The successful acquisition of the 2.9 hectares of prime resort property that is being leased to Crimson Resort & Spa Boracay began contributing to FILRT's income starting January 1, 2023. "The infusion of the Boracay property is only a first step towards a more diversified portfolio for FILRT. While it has now broadened FILRT's income profile mix beyond office leasing and into the growing Philippine hospitality and leisure segment, we remain focused on further growing FILRT's portfolio organically and with regular asset infusions. We are guided by a clear investment strategy of increasing occupancy, cost management and asset acquisition to sustain the portfolio expansion and deliver stable and competitive return to our investors," said FILRT president and chief executive officer Maricel Brion-Lirio. Together with its fund management company, FREIT Fund Managers, Inc., FILRT is in the process of completing the due diligence and internal approvals of new asset infusions. The details of the portfolio expansion will be announced in due course. Amidst the expansion plans, FILRT's average occupancy rate in the first quarter of 2023 stood at 85 percent. Occupancy has been able to hold up compared to the estimated office industry's average occupancy rate of 81 percent based on the Colliers Q1 2023 Property Market Report.

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Nevertheless, FILRT continues to finalize new leases and renew expiring contracts. As of the end of the first quarter, almost 10,300 square meters of new leases have signed Letters of Intent and Contracts of Lease. On renewals, almost 17,200 square meters or 42 percent of the lease expiries for 2023 have already been renewed, with another 11,000 square meters or 27 percent awaiting finalization of the renewal contracts. The balance is due for renewal throughout the remainder of the year. FILRT is focused on sustainability and the utilization of eco-efficient assets. Two buildings in FILRT's portfolio are LEED Gold-certified while two other buildings passed the criteria for Level 1 certification on EDGE (Excellence in Design for Greater Efficiencies) developed by the International Finance Corporation. These green building certifications confirm FILRT's commitment to sustainability, particularly on energy, water and resource efficiency. As a sustainability-themed REIT founded on strong ESG principles, FILRT looks forward to growing a resilient and robust real estate investment portfolio.

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FILRT - Filinvest REIT, Corp.

C03928: Filinvest REIT press release - 1

"Filinvest REIT Corp. (FILRT) records 17% net income growth QoQ to P304 million"

May 16, 2023 – Filinvest REIT Corp. (FILRT), the flagship commercial REIT of the Filinvest group, recorded a net income of P304 million in the first quarter of 2023 on the back of rental and other revenues of P801 million. On a sequential basis comparing the first quarter results from the fourth quarter of 2022, net income rose by 17 percent as a result of a 5 percent improvement in rental revenues and a 13 percent reduction in operating costs. The successful acquisition of the 2.9 hectares of prime resort property that is being leased to Crimson Resort & Spa Boracay began contributing to FILRT's income starting January 1, 2023. "The infusion of the Boracay property is only a first step towards a more diversified portfolio for FILRT. While it has now broadened FILRT's income profile mix beyond office leasing and into the growing Philippine hospitality and leisure segment, we remain focused on further growing FILRT's portfolio organically and with regular asset infusions. We are guided by a clear investment strategy of increasing occupancy, cost management and asset acquisition to sustain the portfolio expansion and deliver stable and competitive return to our investors," said FILRT president and chief executive officer Maricel Brion-Lirio. Together with its fund management company, FREIT Fund Managers, Inc., FILRT is in the process of completing the due diligence and internal approvals of new asset infusions. The details of the portfolio expansion will be announced in due course. Amidst the expansion plans, FILRT's average occupancy rate in the first quarter of 2023 stood at 85 percent. Occupancy has been able to hold up compared to the estimated office industry's average occupancy rate of 81 percent based on the Colliers Q1 2023 Property Market Report.

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FLI - Filinvest Land, Inc.

C04112: Filinvest Land JV : FLI and KMC: "flexible workspace facilities"

 

Date of Approval by Board of Directors: Apr 24, 2023 Date of Approval by Stockholders, if applicable: N/A Description and nature of the transaction including the timetable for implementation, and related regulatory requirements: - A Joint Venture Agreement ("JVA") between FLI and KMC ("Parties") was executed to establish and operate a business for the development, management, operation, and maintenance of flexible workspace facilities offering private serviced office seats and co- working seats in commercial buildings.

Prior to execution of the JVA, FLI already caused the incorporation of the new company, which shall be the entity that will be utilized by the Parties in implementing the JVA. Except for registration with the Bureau of Internal Revenue and in the local government where it will operate, there are no other known regulatory requirements for the joint venture. Rationale for the transaction including the benefits which are expected to be accrued to the Issuer as a result of the transaction: - Co-working spaces are a rapidly growing industry that have been experiencing an increase in demand as of late. This growth is being driven by a number of factors, including the rise of remote work, increasing popularity for multiple office venues, and the growing demand for more conducive work environment. Further, due to the incentives allowed by the Philippine Board of Investments and the Philippine Economic Zone Authority to its locators, there is an ongoing shift in the manner that office spaces are used (traditional office) moving forward. By entering into the Joint Venture Agreement, FLI can leverage the expertise and experience of KMC in the flexible co-working space industry. Secondly, by partnering with a company with a strong branding, FLI will be able to increase its brand awareness in the co- working space industry and be able to reach new markets and expand its operations to multiple locations.

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8.15.23: Filinvest Land press release - 1

"Filinvest Land records 15% income growth in 1H2023"

Residential and rental segments drive year-on-year uptick Filinvest Land, Inc. (FLI), one of the country's largest real estate developers, reported an increase of 15% in net income attributable to equity holders of the parent for the first half of 2023, totaling Php1.39 billion. Total consolidated revenues and other income increased by 8% year-on-year from Php9.15 billion in 2022 to Php9.92 billion in 2023 as the full-range property developer's residential and rental business segments posted growth.

"Filinvest Land continued to achieve growth in its residential and rental business segments during the first six months of the year. We are pleased that our efforts led to satisfactory results as we continued to sustain our sales and marketing activities. We remain focused on meeting our customers' needs as we target to further grow our business this year, with further residential launches planned in the second half," said Tristan Las Marias, FLI President and Chief Executive Officer. Residential revenues grew 4% to Php6.06 billion due to accelerated construction progress and strong performance of FLI's housing projects and medium-rise condominium projects. Reservation sales also grew by 21% to Php 11 billion.

In the first half of 2023, FLI launched P4.56 billion worth of residential projects in Rizal, Laguna, Davao, Pangasinan, South Cotabato, and Zamboanga. The mall business grew 64% to Php1.15 billion due to the increase in mall occupancy and rise in shopper traffic brought about by improving consumer activity as well as normalized rental rates. Filinvest Lifemalls, which include Festival Mall in Alabang, Main Square in Bacoor City, Fora in Tagaytay City, and IL Corso in City di Mare (the Lifestyle Capital of Cebu), together redefined a lifestyle of safety, comfort, and ease to the communities where they are located. In July, the company welcomed St. Battalion, an Australian manufacturer of electric vehicle (EV) batteries as the Filinvest Innovation Park New Clark City's first locator. This is part of the new initiative of FLI to grow a new asset class in ready-built factories (RBFs) for its innovation parks in Clark and Calamba City, Laguna.

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Office revenues increased by 1% to P2.29 billion due to newly signed leases in office buildings such as in Axis 1 and 2 in Northgate Cyberzone, Filinvest City and FLI EDSA Wack Wack in Mandaluyong City. In May this year, FLI signed a joint venture agreement with KMC Community, Inc. for the development, management, operation, and maintenance of flexible workspaces offering private serviced office seats and co-working seats in commercial buildings. This new business is expected to further enhance the company's revenue potential.