Property

Gotianun family budgets P16B for residential, office, retail projects

Filinvest Land Inc. (FLI) has set a capital expenditure budget of P16 bilion this year, largely to expand its residential, office and retail developments as well as beef up its land bank.

Of the total, P6.4 billion will be channeled to residential projects, P5.8 billion for office buildings and P3.8 billion for retail, logistics and innovation parks as well as land acquisitions.

“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,” said FLI president and CEO Josephine Gotianun Yap.

Gotianun-Yap said the company aims to strengthen its foothold in the affordable and mid-income segments.

FLI has a P30 billion pipeline of residential projects and is looking to expand to new areas across such as Bataan, Naga, Dagupan and General Santos.

The company is gearing up for its maiden REIT offering to fund the completion of its ongoing as well as planned office projects.

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