GOTIANUN-LED Filinvest Land, Inc. (FLI) plans to use part of the proceeds from its recent P12-billion bond issuance for the construction of two new retail spaces to expand its property portfolio.
FLI President and Chief Executive Officer Tristaneil D. Las Marias said the company will open a 24,000-square-meter (sq.m.) Filinvest Mall in its Filinvest Mimosa Estate in Clark, Pampanga, by 2026.
“It will be a lifestyle destination in the North that will feature many global athleisure brands,” Mr. Las Marias said during a listing ceremony in Makati City on Wednesday.
He added that the company is planning Filinvest Mall Cubao, a 17,000-sq.m. retail space, within FLI’s Activa Towers development in Quezon City. The mall will include a supermarket and areas for food and retail offerings.
FLI listed its P12-billion bond issuance on the Philippine Dealing and Exchange Corp. (PDEx) on Wednesday.
The bonds consist of five-year bonds due in 2030 with an interest rate of 6.2916%, seven-year bonds due in 2032 with an interest rate of 6.6550%, and ten-year bonds due in 2035 with an interest rate of 6.8312%.
The issuance is the second tranche of FLI’s P35-billion shelf-registered bonds approved in 2023. The first tranche, which raised P11.4 billion, was issued in December 2023.
Aside from funding new malls, FLI will use the bond proceeds to repay existing debts and finance capital expenditures for land development and real estate construction projects.
Mr. Las Marias said the proceeds will also be allocated to its industrial business.
“We have also seen a strong demand for our industrial business ready-built factories (RBF). Our RBFs in both our Filinvest New Clark City Industrial Park and Filinvest Technology Park in Ciudad de Calamba, Laguna, are sold out, and we still have a long list of reservations from foreign and local businesses,” he said.
Mr. Las Marias also said FLI aims to sustain its growth trajectory in the residential segment following a profitable 2024.
“With the growth in our residential revenues and the introduction of new residential inventories last year, we aim to sustain our growth trajectory in the residential segment in 2025 and beyond,” he said.
“2024 was challenging, but we achieved income growth as the residential and rental businesses performed well despite the challenges,” he added.
FLI shares were unchanged at 70 centavos apiece on Wednesday. — Revin Mikhael D. Ochave
