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Monday, May 27, 2024

Filinvest’s Ambitious Growth: Doubling Capex to P25 Billion for Jobs, Green Energy, and Hotels

The Filinvest Development Corp. (FDC), owned by the Gotianun family, is gearing up for significant expansion in 2024.

With an allocated capital expenditure (capex) budget ranging between P20 billion and P25 billion, nearly doubling last year’s spending, the company aims to propel growth across its core sectors.

Brian Lim, FDC’s CFO, highlighted that the increased capex underscores the group’s confidence in the Philippine economy and its dedication to sustainable long-term growth.

A substantial portion, approximately 60%, of the capex will be channeled into real estate development, a cornerstone of FDC’s operations. Moreover, the company is emphasizing sustainability, with 15% of the funds earmarked for renewable energy projects, particularly solar power initiatives.

Expanding its hotel portfolio nationwide is another priority for FDC, with 15% of the capex allocated to this sector. The remaining 10% will be directed towards investments in other businesses and digitalization efforts, reflecting FDC’s strategy of diversification and future-proofing.

While primarily relying on internally generated funds to finance this ambitious expansion plan, FDC remains open to utilizing debt financing to supplement its investment requirements. – (bilyonaryo.com)

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