Filinvest Land bucks slump with 4% profit growth

MANILA, Philippines — Filinvest Land Inc. (FLI) grew earnings despite a challenging property market, buoyed by stronger residential sales and steady contributions from its leasing businesses.

On Tuesday, the Filinvest Group’s property arm said net income rose 4 percent to P2.21 billion in the first half of 2026. Consolidated revenues also increased 2.9 percent to P12.57 billion.

READ: Filinvest Land Q1 income rises to P1.1B

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The results marked a second straight quarter of growth despite industry headwinds, as FLI’s diversified portfolio and recurring income streams provided support.

A rebound in residential demand drove performance, with total reservation sales jumping 50 percent year on year to P12.5 billion in the six-month period. In June alone, reservation sales reached P3.7 billion, the company’s highest monthly level since 2018. Ready-for-occupancy (RFO) sales accounted for P6.8 billion in the first half.

As a result, real estate revenues rose 3.3 percent to P7.72 billion as the developer focused on monetizing RFO inventory and meeting demand for immediately available properties.

“Our first-half results demonstrate FLI’s ability to translate demand into earnings through a disciplined, diversified business model,” FLI President and CEO Tristan Las Marias said.

He added that the pickup in reservation sales, particularly for RFO units, reflected improving buyer activity and the strength of the company’s offerings across key markets.

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Meanwhile, recurring income businesses cushioned the impact of the broader property slowdown. Retail mall leasing revenues climbed 12 percent to P1.47 billion, with occupancy improving to 81 percent following asset enhancement initiatives and stronger tenant engagement.

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Office leasing revenues rose 2.4 percent to P2.54 billion, while FLI recorded a 100-percent renewal rate for all leases that expired in the second quarter.

In addition, the industrial segment continued to draw demand, particularly for the 33-hectare mega lots at Filinvest Innovation Park–New Clark City, as corporate occupiers sought logistics and manufacturing hubs.

Las Marias said FLI will remain focused on execution and capital efficiency while capturing demand across its residential, commercial, and industrial businesses as market conditions evolve. /pai