Gotianun property unit manages to post higher profit on modest bump in home sales

Filinvest Land Inc. (FLI) of the Gotianun family eked out a two percent gain in profit to P3.8 billion on higher reservation sales.

Revenues from the residential segment grew by 15 percent to P11.27 billion, largely due to continued construction activities and healthy takeup of sales.

Reservation sales rose five percent to P16.04 billion.

FLI launched P6.7 billion worth of residential projects around the country including Metro Manila, Pampanga, Cagayan de Oro and Davao. To further expand its footprint, the company entered Dagupan, Pangasinan last year.

“We are happy with the results of our digital transformation that made our business more accessible to sales network and clients here and abroad. As we accelerate our construction pace and execute faster on our expansion plans, we expect to sustain our growth momentum throughout 2022 and beyond,” said Tristan Las Marias, FLI chief strategy officer and residential business Head.

FLI was included in the newly launched PSE MidCap Index, which measures the performance of mid-sized companies of the Philippine market. The constituents are selected based on market capitalization, liquidity, financial and free float.

SOURCE: Bilyonaryo

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Filinvest REIT books P1.9B profit in 2021 on resilient BPO sector

The real estate investment trust of the Gotianun family posted a net income of P1.9 billion last year, driven by rental revenues from business process outsourcing companies.

Filinvest REIT Corp. (FILRT) registered rental and other revenues of ₱3.4 billion and a gain on derecognition of lease liabilities of ₱189 million.

The company has distributed three quarterly cash dividends to date totaling ₱0.336 per share. This is equivalent to an annualized dividend yield of 6.4 percent which is higher than benchmark rates and better than the 6.3 percent dividend yield it projected for 2021 in its REIT plan and based on its initial public offering price of ₱7 per share in August last year.

“ We are optimistic of a strong economic recovery in 2022, particularly in the business process outsourcing (BPO) industry, which comprises about 91 percent of our tenant base,” said FILRT president and CEO Maricel Brion-Lirio.

FILRT believes that the government’s back-to-office directive will boost the the company’s office leasing segment as BPOs rebuild their on-site footprint.

The company’s portfolio consists of 17 Grade A office buildings totaling over 300,000 square meters of gross leasable area (GLA).

Of these, 16 of the 17 buildings are in Northgate Cyberzone in Filinvest City in Alabang, a PEZA Special Economic Zone and IT park while another building is located in the gateway of Cebu IT park in Lahug, Cebu City. The assets were valued by an independent appraisal company at ₱48.5 billion.

SOURCE: Bilyonaryo

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Gotianuns deploy P2.4B from Filinvest REIT IPO funds

Filinvest REIT led by bilyonaryo Josephine Gotianun-Yap has so far disbursed 20 percent of the P12.6 billion it raised from the initial public offering (IPO) last year.

FILRT has spent a total of P2.4 billion for Filinvest property projects, construction arm, and purchase of new land from August to December 2021.

FILRT’s biggest property spending went to Axis Three and Four towers in the Northgate Cyberzone in Filinvest City (P841 million), Alta Spatial condo in Valenzuela City (P167 million), Clark Lifestyle Mall in Pampanga ( P156 million), Cyberzone Tower 3 in Cebu City ( P140 million), and Panglao Oasis low-rise condo in Taguig City (P132 million).

It allocated P361 million in the purchase of raw land and P199 million for the capital expenditures of Dreambuilders.

SOURCE: Bilyonaryo

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SEC greenlights Gotianun-led FLI’s P10B bond offer

Filinvest Land Inc. (FLI) has secured the Securities and Exchange Commission’s approval to raise as much as P10 billion from the issuance of fixed-rate bonds.

FLI is offering P8 billion worth of four-year and six-year bonds with an option to upsize by another P2 billion.

The bonds due 2025 carry an interest rate of 4.5030 percent while the bonds due 2027 have an interest rate of 5.2579 percent per annum.

This latest bond issuance represents the second tranche of FLI’s P30 billion shelf registration with the SEC filed in 2020.

The real estate development firm of the Gotianun family has mandated BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp., First Metro Investment Corp., RCBC Capital Corporation and SB Capital Investment Corp. as the joint lead underwriters and bookrunners.

FLI has earmarked P16 billion for its capital expenditures this year to build new residential, office and retail projects as well as for logistics and land acquisitions.

The company has a P30 billion pipeline of residential projects with plans to enter new markets including General Santos, Naga, Dagupan and Bataan.

 SOURCE: Bilyonaryo

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Gotianuns to raise up to P10B from fresh bond offer

Filinvest Land Inc. (FLI) is returning to the bond market this year to raise as much as P10 billion from the sale of debt securities.

In a regulatory filing, FLI said its board approved a base offer of P8 billion worth of fixed-rate peso denominated retail bonds with an option to upsize it by another P2 billion.

The bonds will have a tenor ranging from four years to six years.

This is the second drawdown from FLI’s P30 billion shelf registration program with the Securities and Exchange Commission.

The last time FLI tapped the local bond market was in November last year, raising P8.1 billion.

FLI has mandated BDO Capital & Investment Corp., BPI Capital Corp., China Bank Capital Corp., East West Banking Corp. First Metro Investment Corp., RCBC Capital Corp. and SB Capital Investment Corp. as joint lead underwriters and bookrunners.

FLI has earmarked P16 billion for capital spending this year, P6.4 billion of which will go to residential developments, P5.8 billion for offices and P3.8 billion for retail/logistics/innovation parks and land acquisitions.

SOURCE: Bilyonaryo

 

 

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SEC clears Gotianun family’s P14.9B REIT IPO

The Securities and Exchange Commission has approved a P14.92 billion initial public offering planned by the real estate investment trust (REIT) of Gotianun-led Filinvest Land Inc.

FLI, through Cyberzone Properties Inc., is offering to the public as much as 1.63 billion common shares of CPI at a maximum price of P8.30 per share with up to 163.42 million common shares set aside for the over allotment option.

To be renamed Filinvest REIT Corp., CPI stands to gain around P14.35 billion assuming the over allotment option is fully exercised.

One of the pioneer BPO office space providers in the country, CPI will have a REIT portfolio of 16 office towers, one of which has a retail component in Northgate Cyberzone in Filinvest City, Alabang.

BPI Capital Corp. is the joint global coordinator, bookrunner and underwriter while UBS AG Singapore Branch is the joint global coordinator and bookrunner.

The IPO will run from July 19 to 28. The shares will start trading on the stock exchange on Aug.6.

Proceeds will fund the construction of FLI’s office, mall and warehouse projects as well as land banking initiatives.

SOURCE: Bilyonaryo

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