FDC plans to raise capex to P27.6 billion

GOTIANUN-LED Filinvest Development Corp. (FDC) plans to allocate about P27.6 billion in capital expenditure (capex) for this year to support expansion and system upgrades.

The 2026 capex is 11.3% higher than the P24.8 billion budgeted for 2025, FDC Chief Finance Officer Ven Christian S. Guce said during a briefing on Wednesday.

“About 48% of that will be going toward expansion-related projects. We’re expanding capacity for our businesses. There are real estate projects that we’re just completing,” he said.

Mr. Guce said the company has no new real estate or condominium projects in the pipeline and is focusing on selling existing inventory.

“We’re finishing our hotel in Baguio. We’re also building a wastewater sewage treatment plant in Filinvest City in Alabang, which will allow us to also supply water to a growing city. And then, we’re spending another P2.7 billion to support the digital transformation group…deploying AI competency training, AI tools,” he added.

He said the group is also upgrading key systems, including enterprise resource planning (ERP), project management, construction management, and business performance tools, under the oversight of Chief Operating Officer Ysmael V. Baysa.

“Per segment, 40% is going to power, 38% is to real estate. Then the other 10% is for banking. On the banking side, we’re spending about P2.67 billion this year. A large part of that is also toward the digital transformation of the bank,” he said.

Meanwhile, FDC President and Chief Executive Officer Rhoda A. Huang said the company is reviewing spending to implement cost controls and prioritize essential projects.

“Anything with regards to, now, energy conservation, where we can contain costs, even in capex, so we move into critical capex — critical capex that can potentially still move the needle, right?” she said.

In 2025, FDC reported an attributable net income of P15.01 billion, up 23.7% from P12.13 billion in 2024.

The company said the increase was driven by contributions from its banking, real estate, and power units.

The banking and financial services segment contributed P7 billion, or 40% of total net income. Power unit FDC Utilities, Inc. accounted for P4.9 billion, up 14% year on year.

The real estate segment, including Filinvest Land, Inc. and Filinvest REIT Corp., generated P4.6 billion, up from P3.8 billion in 2024. Residential revenues rose 15% to P20.2 billion.

Hotel operations under Filinvest Hospitality Corp. posted P264 million in net income on revenues of P3.8 billion.

FDC has interests in banking through East West Banking Corp., in real estate through Filinvest Land, Inc. and Filinvest Alabang, Inc., and in power through FDC Utilities, Inc. It also operates in the hotel sector through Filinvest Hospitality Corp.

FDC shares last traded on March 25 at P4.24 apiece. — Alexandria Grace C. Magno