FILRT profit jumps to P1.3 billion on Festival Main Mall boost

Upgrade to High-Speed Internet for only ₱1499/month!

Enjoy up to 100 Mbps fiber broadband, perfect for browsing, streaming, and gaming.

Visit Suniway.ph to learn

November 6, 2026 | 12:00am

MANILA, Philippines —  Filinvest REIT Corp. (FILRT), the real estate investment trust arm of the Gotianun family’s Filinvest Land Inc., booked higher profit in the first nine months, as revenues climbed following Festival Main Mall’s full-year contribution.

FILRT reported a net income of P1.3 billion from January to September, up by 28 percent year-on-year, with revenues increasing 18 percent to P3 billion.

Average occupancy remained at 86 percent in the first three quarters, unchanged year-on-year.

The company said the addition of Festival Main Mall in May 2025 boosted occupancy and revenues.

FILRT’s overall tenant mix consists of 60 percent offices, 32 percent retail and eight percent hospitality.

It said office occupancy averaged 79 percent from January to September, with multinational BPO companies accounting for 83 percent of office occupants, traditional tenants for 14 percent and coworking, wellness and educational institutions for the balance.

During the third quarter, FILRT said it secured 5,651 square meters of new leases from incoming tenants and existing occupants expanding within Northgate Cyberzone in Alabang, bringing year-to-date new leases to 11,714 square meters.

The company also renewed 100 percent of the 20,689 square meters of leases expiring this year.

At end-September, the portfolio’s weighted average lease expiry was 13.95 years.

Joseph Yap, appointed FILRT president and CEO effective Oct. 15 after the retirement of long-serving chief Maricel Brion-Lirio, said the company’s priority is to aggressively optimize assets, secure new leases and strengthen operational efficiency to deliver stable dividends and long-term shareholder value.

“Our third quarter performance underscores FILRT’s resilience as we adapt to a changing property market,” Yap said.

FILRT’s portfolio comprises 17 office buildings, one mall and one resort lot, with a total gross leasable area of 452,310 square meters.