Filinvest REIT Posts 34% Profit Jump in H1 Driven by Mall Contribution

MANILA, Philippines — Filinvest REIT Corp. (FILRT) saw its first-half net income surge by 34 percent to P874 million, as the full-period contribution of its Festival Main Mall boosted revenues and offset weaker office leasing. Filinvest Land’s REIT arm said revenues rose 31 percent to P2.05 billion in the first half, boosted by Festival Main Mall’s contribution. “Our first-half performance reflects the resilience of our portfolio,” said FILRT President and CEO Maricel Brion-Lirio. “As we move through the rest of 2026, we will remain focused on disciplined leasing, prudent cost management and sustainability-led initiatives that support stable dividends and long-term shareholder value.” Costs and expenses rose 8 percent to P663 million, while other charges fell 1 percent to P185 million, boosting earnings. FILRT said Festival Main Mall helped lift first-half occupancy to 87 percent, up six percentage points year-on-year despite softer office rents.The portfolio includes 17 office buildings, one mall and one resort lot, with 452,310 square meters of gross leasable area. Office assets account for 61 percent of the portfolio, followed by retail at 32 percent and hospitality at 7 percent. Office occupancy averaged 80 percent in the first half, with multinational BPO firms taking up 85 percent of leased space. FILRT secured 5,964 sq m of new leases by end-June from new tenants and expansions within Northgate Cyberzone. Meanwhile, FILRT renewed or secured letters of intent for 49 percent of leases expiring this year, totaling 20,689 sq m. Its weighted average lease expiry stood at 13.95 years. The board declared a quarterly cash dividend of P0.06 per share, payable on Sept. 1 to shareholders of record as of Aug. 20. FILRT’s total declared dividends for 2026 reached P0.18 per share, equivalent to an 8.2 percent annualized yield based on its Aug. 3 closing price of P2.92. /pai INQ