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Filinvest Land leases Buendia building to DTI

GOTIANUN-LED Filinvest Land, Inc. (FLI) has leased its entire Filinvest Building in Buendia, Makati City, to the Department of Trade and Industry (DTI).

FLI, through its office business unit Filinvest Cyberparks, Inc., is leasing the 14-storey Filinvest Building in Gil Puyat Avenue to DTI as part of the government agency’s plan to consolidate its various operating units, the listed property developer said in a statement on Monday. 

The property developer did not provide further details on the lease agreement such as its value and duration.

The lease encompasses 10,668.40 square meters and was finalized after FLI and DTI signed a lease agreement.

DTI’s operating units that will transfer to the Filinvest Building include the Office of the Secretary, Competitiveness and Innovation Group, Consumer Protection Group, and Communications Office.

“Filinvest Buendia provides an optimal environment for our operations, enabling us to enhance our services and better serve the Filipino people,” Trade Assistant Secretary Agaton Teodoro O. Uvero said.

In 2023, FLI saw a 30% jump in its attributable net income to P3.77 billion. The company’s consolidated revenue and other income rose by 13% to P22.55 billion in 2023 from P19.94 billion in 2022 led by higher contributions from its residential and leasing segments.

FLI shares were unchanged at 68 centavos per share on Monday. — Revin Mikhael D. Ochave

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