Connect with us

Hi, what are you looking for?

Stock Markets

Filinvest Land plans expansion in Cebu

Filinvest Land-logo

FILINVEST Land, Inc. is planning to expand its presence in Cebu via office and township developments, as it sees opportunities in the growing business process outsourcing (BPO) industry in the area.

“Cebu is the top-of-mind metropolitan city next to Metro Manila and the center of urban growth in the Visayas. High-potential land is available at lower investment costs, so BPO companies are relocating there,” Filinvest Land Executive Vice-President and Chief Strategy Officer Tristaneil D. Las Marias said in a statement on Monday.

The company is hopeful especially with the completion of infrastructure projects in Cebu, like the Cebu Cordova Link Expressway, and as more entertainment hubs in the area emerge.

In 2009, Filinvest Land purchased land and entered into an agreement with the Cebu City government for a 50.6-hectare property within the economic zone in South Road Properties (SRP). The company said it has since become the biggest central business district landowner in SRP after buying additional land in the area.

It is also looking at the growth of its 1.2-hectare property adjacent to Cebu IT Park in Lahug City, Cebu. One of its 17 properties in its real estate investment trust (REIT) portfolio is Cebu Tower 1.

Filinvest Land said its office and township developments projects in Cebu “could potentially be added” to the portfolio of its REIT vehicle, Filinvest REIT Corp. (FILREIT).

FILREIT is currently going on its offer period, which will last until Aug. 3. Its debut on the Philippine Stock Exchange is tentatively set on Aug. 12.

On Monday, shares of Filinvest Land closed unchanged at the stock market at P1.11 each. — Keren Concepcion G. Valmonte

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

You May Also Like

Breaking News

TikTok is one of the most rapidly growing platform. People across all the spectrum of age, gender, communities are joining the platform to...

Finance

Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition...

Breaking News

The $160,000 SS Dolphin is a hybrid 1950s Corvette clone from China – Business Insider Amazon Prime Day Business Insider logoThe words “Business Insider”....

Finance

A shopping centre in Coventry that eight years ago was valued at £37 million was sold this week for only £4.9 million, setting...

Disclaimer: CaptainOfSuccess.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2021 Captain Of Success. All Rights Reserved.