FILINVEST LAND, Inc. (FLI), the Gotianun-led property developer, posted a 33% increase in residential reservation sales for the first nine months of 2026, with the P17.95 billion tally already surpassing its full-year 2025 total as demand for completed housing units remained strong.

Reservation sales — the value of units homebuyers commit to before turnover — function as a leading indicator for developers, since booked units are typically converted into recognized revenue as construction milestones are met and handovers occur. In a statement issued on Thursday, the company said reservation sales for the January-to-September period exceeded the P16.97 billion recorded across all of 2025. Ready-for-occupancy (RFO) homes accounted for P9.9 billion, or more than half of total reservation sales, aligning with management's stated push to monetize existing inventory.

“We are encouraged by the demand we continue to see across our businesses, from families choosing completed homes to businesses choosing our malls, offices, and industrial developments,” Filinvest Land President and Chief Executive Officer Tristan Las Marias said.

“Together, these developments give us confidence in the direction of our business and support our outlook for a strong full-year performance in 2026. Our priority is to translate that demand into results through inventory monetization, stronger recurring income, and disciplined portfolio management,” he added.

Despite the stronger reservations, Filinvest Land's nine-month net income declined 4.8% to P3.47 billion from a year earlier. The gap reflects standard property-sector accounting, under which revenue enters the income statement as construction milestones are completed and units are turned over, so a period's bookings build the pipeline for future earnings rather than the current one. Consolidated revenues and other income reached P19.43 billion, while residential revenues fell 4.2% to P12 billion — a decrease the company attributed mainly to the timing of revenue recognition.

The developer said it held approximately 1.5 years' worth of residential inventory as of end-September — a measure of how long existing stock would take to clear at the prevailing pace of sales — adding that demand for completed homes supported its efforts to sell existing inventory and generate revenues from future unit turnovers.

Leasing businesses generated P6.35 billion in revenues over the nine-month period, supported by growth in the retail and office segments. Lease income is the recurring revenue stream management has identified as a priority to strengthen alongside home sales. Retail leasing revenues rose 12.8% to P2.26 billion, which the company attributed to improving consumer activity, tenant demand, and mall enhancements. Office leasing revenues increased 2.5% to P3.77 billion.

Filinvest Land also expects to recognize approximately P2.6 billion in revenue in the fourth quarter from a 99-year lease agreement with a locator at Filinvest Innovation Park in New Clark City, a government-backed master-planned development in Tarlac. The company did not identify the industrial locator or disclose further financial details of the agreement in its statement. The expected recognition adds a concrete component to the strong full-year 2026 performance the company has projected.

Separately, the property developer recently began unit turnovers at Futura Monte, a four-building mid-rise condominium development in Naga City, Camarines Sur. Initial handovers for Building A started on Nov. 6, while construction of Building B was 79% complete. Such handovers mark the point at which residential bookings convert into recognized revenue, the inventory monetization mechanism management has emphasized.

At the local bourse on Thursday, Filinvest Land shares closed unchanged at P0.70 apiece, while shares of parent company Filinvest Development Corp. ended flat at P3.81 each. — Juliana Chloe A. Gonzales, BusinessWorld

Source: BusinessWorld