FILRT posts 28 per cent profit growth as mall lifts revenue
The Philippine REIT reported ₱1.3 billion in nine-month net income and renewed all leases scheduled to expire during the year.
Filinvest REIT Corp. (FILRT) said its January–September net income rose 28 per cent year-on-year to ₱1.3 billion, while revenue grew 18 per cent to ₱3 billion. The company credited Festival Main Mall, added in May 2025, with helping improve revenue and occupancy.
Across the portfolio, average occupancy was steady year-on-year at 86 per cent for the nine-month period. Offices recorded average occupancy of 79 per cent. Multinational BPO companies made up 83 per cent of office occupants, compared with 14 per cent for traditional tenants.
Third-quarter leasing at Northgate Cyberzone in Alabang included new arrivals and expansion by existing tenants, covering 5,651 square metres. That brought the area covered by new leases for the year to 11,714 square metres, FILRT said.
Renewals covered the entire 20,689 square metres scheduled for expiry during the year. At the close of September, FILRT reported a weighted average lease expiry of 13.95 years.
The REIT holds 17 office buildings alongside a mall and a resort lot. Together, these assets provide 452,310 square metres of gross leasable area. Its tenant mix is 60 per cent offices, 32 per cent retail and eight per cent hospitality.
