The ‘ber’ months are here and chances are you’ve heard at least one Christmas tune already. After more than 18 months under the shadow of COVID-19, developer Filinvest sees reasons to be cheerful ahead of the holiday season with both consumer confidence and the country’s vaccination rate on the rise.
“Consumer confidence will increase as many Filipinos get inoculated every day. Filinvest Land sees a consistent recovery trend for the Philippine real estate industry this year due to the easing of quarantine restrictions and faster roll out of COVID-19 vaccine programs,” President and CEO Filinvest Land, Josephine Gotianun-Yap, explained to the INQUIRER.net.
The homebuilder noted that it hopes to have all its employees vaccinated before the end of the year. Meanwhile on the business front, Filinvest is optimistic the holiday season will see the Philippines’ recovery kick into overdrive after seeing positive signs to start 2021.
“In the first two quarters of 2021, our residential revenues have increased by 76 percent. Figures showed reinforced demand for our smart-value homes brand Futura by Filinvest and lifestyle middle-income brand Aspire by Filinvest,” Yap stated. “We have achieved these results on account of our agility and adaptability, which also enabled us to accelerate our digitalization.”
The COVID-19 pandemic also saw Filinvest seek out new opportunities. For example, it started constructing solar rooftop projects for major industrial clients in the Philippines under its energy subsidiary FDC Utilities Inc. The developer has plans to expand these efforts moving forward.
“We definitely are pursuing renewable energy projects. We have about 56 megawatts (MW) of renewable energy projects that we are running after,” Gotianun-Yap during the during the Economic Journalists Association of the Philippines’ midyear economic forum.
And this is only one way the homebuilder is diversifying. Filinvest will explore all available options through 2021 and beyond as it looks to better serve the public.
“We are always embarking on new initiatives on co-living spaces along with logistics and e-commerce warehouses which will broaden the base of our investment properties for recurring income. Innovation in our businesses will remain our priority,” Yap noted. “We continue to develop products and services responsive to the current needs and movements in the markets we serve.”