FLI's office leasing revenues improve 8% in 2020

·1 min read

FILINVEST Land Inc. (FLI) says it saw its office leasing revenues grow by eight percent in 2020 to P5.56 billion from P5.17 billion in 2019.

FLI has 31 operational office buildings and 11 buildings under construction that will be completed in the next two years, with a total gross leasable area of over 750,000 square meters strategically located in Metro Manila, Clark and Cebu. For 2020, mall rental revenues registered a 55 percent drop to P828 million.

FLI ended the year with a nine percent drop in aggregate rental revenues to P6.39 billion. FLI’s full year gross revenues fell 32 percent to P17.49 billion in 2020, with residential revenues declining by 42 percent to P9.84 billion.

Net income attributable to equity holders was lower by 41 percent at P3.73 billion in 2020 from P6.28 billion in 2019. (PR)