FILINVEST REIT Corp. (FILRT) posted a 28-percent increase in net income to P1.3 billion in the first nine months of 2026, supported by higher revenues following the full-year contribution of Festival Main Mall to its property portfolio.
The real estate investment trust on Wednesday reported revenues of P3 billion from January to September, up 18 percent from P2.54 billion in the same period last year.
The latest earnings performance builds on the 15-percent growth in net income FILRT recorded in the first nine months of 2025, when profit reached P1.02 billion from P893 million in the previous year.
The company attributed its revenue growth mainly to the full-year contribution of Festival Main Mall, which was added to its portfolio in May 2025.
Costs and expenses increased by a slower 4 percent to P986 million, while other charges declined 1 percent to P279 million during the nine-month period.
FILRT’s average portfolio occupancy remained at 86 percent in the first three quarters, unchanged from the same period last year.
Its office portfolio recorded an average occupancy rate of 79 percent, with multinational business process outsourcing companies accounting for 83 percent of office tenants. Traditional tenants accounted for 14 percent, while coworking, wellness and educational institutions made up the remainder.
During the third quarter, FILRT secured 5,651 square meters of new leases from incoming tenants and existing occupants expanding their leased spaces at Northgate Cyberzone in Alabang. This brought its year-to-date new leases to 11,714 square meters.
The company also renewed all 20,689 square meters of leases expiring this year, bringing the portfolio’s weighted average lease expiry at 13.95 years as of end-September.
With the improved earnings, FILRT’s board approved a quarterly cash dividend of P0.06 per outstanding common share, covering income earned from July to September. Shareholders on record as of Nov. 24 will receive the dividend on Dec. 2.
The latest declaration brings FILRT’s total dividends declared for 2026 to P0.24 per share, equivalent to an annualized yield of 8.5 percent based on its closing share price of P2.84 on Oct. 30.
FILRT President and CEO Joseph Yap said the company’s third-quarter performance demonstrated its resilience amid changing property market conditions.
“Our priority is to aggressively optimize assets, secure new leases and strengthen operational efficiency to deliver stable dividends and long-term shareholder value,” he said.
Yap assumed the top post on Oct. 15, succeeding Maricel Brion-Lirio, who had retired after serving as the company’s longtime chief executive.
FILRT’s portfolio consists of 17 office buildings, one mall and one resort lot, with a combined gross leasable area of 452,310 square meters.
The company’s shares on Wednesday closed unchanged at P2.88 each amid a 1.26-percent gain for the benchmark Philippine Stock Exchange index.