REIT AsiaPac

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Filinvest REIT Q1 Net Income Rises 17% To 304 Million Pesos

June 3, 2023 – FILRT recorded a net income of ₱304 million (US$17 million) in the first quarter of 2023, 17% higher than the previous quarter, driven by a 5% improvement in rental revenues and a 13% reduction in operating costs. The growth was led by the successful acquisition of the 2.9 hectares of prime resort property that is being leased to Crimson Resort & Spa Boracay which began contributing to FILRT’s income starting January 1, 2023, the REIT said in a statement.