Filinvest Land posts higher March residential reservations

FILINVEST LAND, INC. (FLI) reported a 62% increase in residential sales reservations in March, driven by stronger demand across its key regional markets.

In a statement on Thursday, the property developer said residential sales reservations reached P2.7 billion in March.

“Our residential performance in the first quarter proves that our products are aligning perfectly with the evolving needs of Filipino homeowners,” FLI President and Chief Executive Officer Tristan Las Marias said.

“The record sales we recorded in March reflect the strength of our regional strategy. We are not just building houses; we are creating value in the areas where the Philippine economy is growing fastest,” he added.

FLI said the growth was driven by double-digit increases in the National Capital Region, Central Luzon, and Mindanao, as demand for residential developments in these markets strengthened.

The residential segment helped lift real estate revenues by 6% to P3.92 billion during the first quarter.

For the January-to-March period, FLI posted consolidated revenues of P6.31 billion, up 4.5% from a year earlier, while net income stood at P1.1 billion. — Alexandria Grace C. Magno