Investing Stocks in Philippines: FLI

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Monday, April 30, 2012

Stock News 2012: FLI allots P5 B for Cebu BPO project

PBCom Tower, the tallest skyscraper in the Philippines, at the heart of Ayala Avenue in Makati City. (Photo credit: Wikipedia)
Gotianun-led Filinvest Land Inc. (FLI) is pouring in P5 billion to convert a 1.2 hectare property in Cebu into a modern office complex catering to the business process outsourcing (BPO) sector in the area.

FLI president Joseph Yap said the complex, which would rise on a lot that used to be occupied by the Bagong Buhay Rehabilitation Center and the Cebu City Treatment and Rehabilitation Center in Salinas Drive, Lahug, would comprise four buildings which are expected to provide an additional 87,000 square meters to its office portfolio when completed.

The company is spending P640 million to construct the first building.

Yap said the company remains bullish on the BPO sector and is rapidly expanding its office portfolio to meet the needs of the industry.

By 2012, FLI will have an office portfolio of over 178,000 sqm in terms of gross leasable area, making it one of the biggest office landlords in the country. The figure is expected to increase further to 371,000 sqm by 2016 or 108 percent higher.

As of the end of 2011, FLI’s BPO office building portfolio had over 170,000 square meters of gross leasable area (GLA) from 12 buildings in Northgate Cyberzone in Filinvest Corporate City in Muntinlupa City and PBCom Tower in Makati City.

At Northgate Cyberzone, another building is currently under construction and would add close to 20,000 square meters of GLA in the first half of 2013, while a 14th building is targeted to break ground within the year with a GLA of 13,000 square meters.

Vector Two, which was completed in the fourth quarter of 2011, is fully taken-up and has been turned over for tenant fit-outs.

Aside from this, FLI is constructing a five-story building along EDSA across the Asian Development Bank building, and it is expected to be completed within the year.

Cebu has become one of the major hubs for FLI projects. It is currently developing the 50.6-hectare Citta di Mare in the South Road Properties

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801979

Saturday, April 28, 2012

Stock News 2012: FLI ramps up residential line with P14.5-B projects

Gotianun-led Filinvest Land Inc. is ramping up residential construction with plans to roll out 12,100 units valued at P14.5 billion as it sees continued strong demand for the socialized, affordable and middle-income segments of the market.

In a briefing following the company’s annual stockholders’ meeting yesterday, FLI president and chief executive officer Joseph Yap said they remain focused on strengthening their position as one of the top housing suppliers to the majority of Filipino families.

Bulk of this year’s unit launches will come from 14 projects and 19 additional phases as against 11 projects and 22 expansion phases in 2011.

Last year, the company made available a total of 6,503 fresh units worth around P12.1 billion.

With the acute homes shortage in the country, FLI is looking to build 4,500 socialized housing units valued at P1.85 billion. Each unit is priced at P400,000 and below.

Yap noted that the company’s sales reservations have grown by three-fold in the past five years from P3.8 billion to P11.4 billion. Around 91 percent of its real estate sales come from the three segments with the balance of nine percent coming from the high-end market.

FLI is expanding its base of mid-rise buildings, which Yap believes are the best housing alternative for the urban Filipino family, from 11 to 16 by 2013.

The company is also enlarging its geographical footprint to reach 43 towns and cities nationwide by 2013.

Aside from this, FLI is also beefing up its office portfolio with gross leasable area increasing to 371,000 square meters by 2016, up 108 percent from the yearend foreast of 178,000 sqm.

FLI is issuing P11 billion in fixed-rate bonds to support its expansion initiatives.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=801322