Filinvest Development Corporation (FDC) was incorporated on April 27, 1973 and has evolved from businesses established by Mr. Andrew L. Gotianun Sr. since 1955. Originally engaged in the small-scale financing of second-hand cars, the Gotianun Family later expanded into consumer finance in partnership with foreign institutions, such as Chase Manhattan Bank, Westinghouse Electric Corporation and Ford Philippines. By the early 1980s, the Gotianun Family’s Filinvest Credit Corporation had become one of the leading consumer finance companies in the Philippines in terms of assets.
FDC entered the real estate business in 1967 through the incorporation of Filinvest Realty Corporation which engaged in the development of residential subdivisions. Since then it has grown into one of the country’s foremost real estate developers with a diverse property portfolio catering to all markets. Over time, the “Filinvest” name has become established and well recognized in the Philippines.
FDC coordinates several administrative functions among its subsidiary companies, including project development, financing, evaluating potential acquisitions by its constituent companies, land acquisition and construction services, among others.
Real Estate Development
Filinvest Realty Corporation marked the entry of FDC into the real estate arena in 1967. From its first middle-income residential subdivision in Cebu, the company expanded steadily into various locations all over the country. In the mid-80s, the Gotianun Family consolidated their real estate interests in FDC after divesting their shares in two family-owned banks, Family Bank and Trust Company and the Insular Bank of Asia and America. By 1990, FDC expanded its product line to include the development and sale of low-cost and medium-cost housing units.
Filinvest Land, Inc. (FLI) was incorporated on November 24, 1989 as Citation Homes, Inc. and changed its name to FLI on July 12, 1993. It began commercial operations in August 1993 after FDC spun off most of its real estate
operations and transferred all related assets and liabilities to FLI in exchange for shares in FLI. FLI was listed on the Philippine Stock Exchange (PSE) on October 25, 1993. FDC remains FLI’s largest shareholder.
Filinvest Alabang, Inc. (FAI) was incorporated on August 25, 1993 in connection with the development of Filinvest Corporate City (FCC) in Alabang, a joint venture with the government’s Public Estates Authority. FAI is 80% owned by FDC and 20% owned by FLI.
Financial Services
FDC diversified its business interests by incorporating East West Banking Corporation (EWBC) in March 1994. The decision was based on the Group’s re-entry into the financial and banking services industry, an area in which FDC had gained previous experience in the 1970s and 1980s through its ownership of Family Bank and Trust Company, a universal bank, and Insular Bank of Asia and America.
Wholly owned by FDC, EWBC is a medium-sized commercial bank in the Philippines that provides a range of services to consumer and corporate clients.
Hospitality Business
FDC recently expanded into the hospitality industry through the management of hotels, resorts and private membership clubs.
In 2008, FDC entered into a joint venture with Archipelago International Pte. Ltd. (AIPL) for the formation of Filarchipelago Hospitality, Inc. (FHI) in which FDC owns 60% interest. FHI is responsible for managing the Grand Cenia Condotel and Residences which is under development by FLI in Cebu, FAI’s planned hotel at its Entrata Complex in Alabang, and the Crimson Resort and Spa in Seascapes Resort Town. AIPL is an affiliate of Aston International, which manages hotels, resorts, residences, spas and villas under Crimson and other hospitality brands.
Sugar Business
In 2007, FDC further diversified its business by acquiring a 100% ownership interest in Pacific Sugar Holdings Corporation (PSHC) from ALG Holdings.
PSHC wholly owns three Mindanao-based sugar companies, namely Davao Sugar Central Company (DSCC), Cotabato Sugar Central Company (CSCC) and High Yield Sugar Farms Corporation (HYFSC).
DSCC and CSCC both own and operate a sugar mill and refinery while HYSFC develops owned or leased farmland into corporate sugarcane farms.
Utilities and Infrastructure
In 2010, FDC continues to diversify its businesses with the incorporation of FDC utilities. The company is presently prioritizing a 300MW power plant in Mindanao and a total of 190MW of power plants spread across the Visayas employing the latest in clean fuel technology. It is also conducting a feasibility study with respect to a potential water desalination facility.
FDC is developing the Beaufort in Fort Bonifacio and the Seascapes Resort Townin Mactan, Cebu, each on land it owns directly.
Filinvest Development Corp. (FDC), directly and through its subsidiaries, is one of the leading real estate developers in the Philippines. The real estate business comprises Filinvest Land, Inc. (FLI), itself a PSE-listed company, FilinvestAlabang, Inc. (FAI), and their respective subsidiaries, as well as the real estate development projects undertaken by FDC itself. FDC operates in almost all segments in the Philippine real estate industry.
FDC is developing two projects on land it directly owns. These are Seascapes Resort Town on Mactan Island, Cebu and The Beaufort, a premier residential condominium in Bonifacio Global City, Taguig, Metro Manila.
FILINVEST DEVELOPMENT CORP
FLI develops residencial projects,
owns strategic investments in various business sectors, and is developing a hospitality project.
Filinvest Land, Inc. (FLI) was incorporated on November 24, 1989 as Citation Homes, Inc. and changed its name to FLI on July 12, 1993. It began commercial operations in August 1993 after FDC spun off most of its real estate operations and transferred all related assets and liabilities to FLI in exchange for shares in FLI. FLI was listed on the Philippine Stock Exchange (PSE) on October 25, 1993. FDC remains FLI’s largest shareholder.
FLI’s business has historically focused on the development and sale of affordable and middle-market residential lots and housing units to lower and middle-income markets throughout the Philippines. In recent years, FLI has expanded its residential business by catering to other income segments and by introducing innovative concepts in response to market demands. Recent innovations include entrepreneurial communities, medium-rise buildings (MRBs), townships, and themed residential projects with a leisure component, such as farm estates and developments anchored by sports and resort clubs.
In 2006, FLI acquired three strategic assets that provide a recurring income stream: (1) Festival Supermall in Filinvest Corporate City, (2) A 60% stake in Filinvest Asia Corporation which owns half of PBCom Tower within the Makati Central Business District, and (3) Cyberzone Properties, Inc., developer of office buildings in Northgate Cyberzone, an 18.7-hectare Business Process Outsourcing (BPO) office park with multinational tenants.
FLI has, over the years, accumulated an extensive, well-located, low-cost landbank. As of end-2010, FLI’s landbank stood at 2,369 hectares, bulk of which is located just outside Metro Manila in the nearby provinces of Rizal, Bulacan, Batangas, Cavite and Laguna, as well as in growth areas such as Cebu, Davao and General Santos City in South Cotabato province.
The Company has a wide network of sales offices, in-house sales agents and independent brokers located throughout the Philippines, as well as accredited brokers in countries and regions with large Overseas Filipino Workers (OFWs) and expatriate Filipino populations (such as the Middle East, Japan, Italy, the United Kingdom and the United States). Approximately half of FLI’s real estate sales are directly or indirectly derived from OFWs.
FAI's primary project is Filinvest Corporate city A joint venture of the Government and FAI In which FAI owns 74% interest.
Filinvest Alabang, Inc. (FAI) was incorporated on August 25, 1993 in connection with the development of Filinvest City (FC) in Alabang, a joint venture with the government’s Public Estates Authority. FAI is 80% owned by FDC and 20% owned by FLI.
FAI’s primary project is FC, a 244-hectare mixed-use development project located at the southern end of Metro Manila and adjacent to the South Expressway in Alabang. FAI uses modern, ecological urban planning and design in developing FCC as an alternative to Metro Manila’s business districts.
Since the start of its development in 1995, FC has grown to become a major destination in southern Manila that services all segments of the population with a wide array of retail, office and residential developments. It is home to key anchors such as Insular Life, Asian Hospital and the fast-growing Northgate Cyberzone BPO hub.
The second busiest transport terminal in Metro Manila is in the immediate vicinity, making FC a major gateway for commuters going into and out of Metro Manila from the south. The extension of the Skyway elevated road to Alabang significantly enhances the value of FC and further increase its attractiveness as the location of choice for offices and residential living in the South of Metro Manila
FILINVEST LAND INC.
FILINVEST ALABANG INC.
Company Profile
EAST WEST BANKING CORPORATION
Filinvest Development Corporation (FDC) diversified its business interests by incorporating East West Banking Corporation (EWBC) in March 1994. The decision was based on the Group’s re-entry into the financial and banking services industry, an area in which FDC had gained previous experience in the 1970s and 1980s through its ownership of Family Bank and Trust Company, a universal bank, and Insular Bank of Asia and America. EWBC is wholly owned by FDC.
EWBC is a medium-sized commercial bank in the Philippines that provides a range of services to consumer and corporate clients. EWBC’s principal banking products and services include deposits, cash management, commercial and consumer loans, trade facilities, remittance, foreign exchange, fixed income securities investments, derivatives and trust services.
As of September 30, 2010, EWBC had a total of 96 branches, with 60 branches strategically located in Metro Manila and a network of 102 ATMs that provide 24-hour banking services nationwide. The Filinvest Group continues to make significant investments in EWBC’s information technology, operational processes and governance to facilitate the bank’s growth and competitiveness. In January 2009, EWBC acquired 100% of AIG PhilAm Savings Bank, Inc., Philam Auto Finance and Leasing, Inc. and PFL Holdings, Inc. and merged these into EWBC in September 2009. These companies had significant auto loan and credit card businesses.
As one of the fastest-emerging players in the field, EastWest seized the opportunities of a robust economy in 2012 and masterfully launched a series of market initiatives. EastWest opened a total of 123 stores (formerly called branches) to bring its nationwide network to 245 by the end of 2012.
In 2013, EastWest plans to sustain its store banking growth that will lead to a total of 350 stores before the middle of 2014.
PACIFIC SUGAR HOLDINGS CORPORATION
In 2007, FDC further diversified its business by acquiring a 100% ownership interest in Pacific Sugar Holdings Corporation (PSHC) from ALG Holdings.
PSHC wholly owns three Mindanao-based sugar companies, namely Davao Sugar Central Company (DSCC), Cotabato Sugar Central Company (CSCC) and High Yield Sugar Farms Corporation (HYFSC). DSCC and CSCC both own and operate a sugar mill and refinery while HYSFC develops owned or leased farmland into corporate sugarcane farms.
PSHC markets and trades all of the raw sugar produced or refined by the sugar subsidiaries and sells their molasses by-product. In CY 2009-10, they had a combined milling capacity of 9,000 tons of sugarcane per day (TCD) and a refining capacity of 300 metric tons (MT) of refined sugar per day.
FILARCHIPELAGO HOSPITALITY INC.
Filinvest Development Corporation (FDC) expanded into the hospitality industry through the management of hotels, resorts and private membership clubs.
In 2008, FDC entered into a joint venture with Archipelago International Pte. Ltd. (AIPL) for the formation of FilArchipelago Hospitality, Inc. (FHI) in which FDC owns 60% interest. AIPL is an affiliate of Aston International, which manages hotels, resorts, residences, spas and villas under Crimson and other hospitality brands.
FHI currently operates 2 hotels under the 5-star Crimson brand one in Mactan, Cebu and another in Filinvest City, Alabang, Manila (opening 4th Quarter 2012) and 1 hotel under the 3-star Quest brand in Cebu City, Cebu. By the end of 2012, FHI will be managing over 1000 keys. Since its inception, FHI has sought to provide its guests with unforgettable moments of heartfelt service.
FHI is responsible for managing the Grand Cenia Condotel and Residences which is under development by FLI in Cebu, FAI’s hotel at its Entrata Complex in Alabang, and the Crimson Resort and Spa in Seascapes Resort Town.
Crimson Resort & Spa Mactan, Cebu
Crimson Hotel Filinvest City, Manila
Quest Hotel & Conference Center, Cebu
FDC UTILITIES
Harnessing Energy. Empowering Communities.
FDC Utilities, Inc. (FDCUI), a subsidiary of the Filinvest Development Corporation, is committed to continuing the Gotianun tradition of making a difference in the lives of Filipinos. As one of the Philippines’ leading conglomerates, with significant investments and experience in real estate, banking and sugar, the Filinvest Group attempts to diversify its businesses and further its reach through FDCUI to make an impact on a very critical sector: infrastructure and utilities.
FDCUI is the Filinvest Group’s re-entry into the power market. The Filinvest Group has accumulated experience in the power industry since 1995 through the ownership of East Asia Power Corporation and, eventually, the Cebu Private Power Corporation in 1998 until 2000. Backed by this experience along with a strong management team with a proven track record, FDCUI is headed by its President, Jesus N. Alcordo.
FDCUI aims to bring electricity and water to potential growth circles in the Philippines. It aims to spur or further enhance development in communities all over the country while enhancing synergy among the subsidiaries of the Filinvest Group.
The company aims to put up multiple power generation projects in the next five years across the Philippines. FDCUI is presently prioritizing a 300MW power plant in Mindanao and a total of 190MW of power plants spread across the Visayas employing the latest in clean fuel technology. These power generation projects involve a combination of biomass and clean coal-fired power generation. In addition, FDCUI is evaluating a hydro power plant and mine mouth potential in Luzon.