FILRT Declares Q1 Dividends in 2025; Sees Higher Dividends with the Upcoming Asset Infusion of Festival Main Mall

​The Board of Directors of Filinvest REIT Corp. (FILRT), in a meeting held on February 25, 2025, approved the declaration of regular cash dividends amounting to P0.062 per outstanding common share to all stockholders on record as of March 12, 2025 and payable on March 25, 2025. As the first dividend announcement of the company in 2025, this quarter’s dividend is equivalent to a yield of 7.9 percent on an annualized basis, based on the closing share price of P3.15 on February 24, 2025.

The dividend announcement, which is the same level as the previous quarter, came on the heels of the recent corporate actions relating to the asset infusion into FILRT of Festival Main Mall in Filinvest City, Alabang via a property-for-share swap transaction with sponsor, Filinvest Land, Inc. (FLI). The transaction, valued at P6.3 billion, will increase FILRT’s portfolio size in gross leasable area (GLA) by 37 percent to a total of 452,310 square meters after the infusion. The addition of the mall will also improve occupancy of the current portfolio from 83 percent as of end-2024 to 88 percent, and extend weighted average lease expiry (WALE) from 7.3 years to 14.6 years.

“As we move forward with our plans, we will remain steadfast in our focus on growth to deliver increasing value for our shareholders,” said Maricel Brion-Lirio, President and CEO of FILRT. “The company has made significant progress in recovering from the challenges of office leasing through tenant diversification. The upcoming infusion of Festival Main Mall into FILRT will further broaden our portfolio through asset type diversification,” added Ms. Brion-Lirio.

FILRT successfully signed new leases totaling almost 29,000 square meters in 2024, including 12,488 square meters of traditional tenants comprised of both new entrants and existing tenants expanding within Northgate Cyberzone. The size of new leases in 2024 is a 44 percent improvement from the signed 20,100 square meters of new leases in 2023. Meanwhile, over 42,000 square meters or 75 percent of expiring leases in 2024 were renewed, leading to an improvement in weighted average lease expiry (WALE) from 6.9 years to 7.3 years as of end-2024.

“We look forward to the addition of Festival Main Mall into the portfolio. We will ensure that the transaction is dividend accretive to our shareholders,” Ms. Brion-Lirio clarified. The inclusion of Festival Main Mall is estimated to translate into higher distributable income for shareholders, and anticipated to improve dividend per share (DPS) by 5.65 percent.