Filinvest REIT expects 30% revenue growth from Festival Mall acquisition in Philippines
inquirer.net — February 4, 2025, 08:00 PM UTC
Filinvest REIT Corp. expects a 30% increase in quarterly revenues after acquiring Festival Mall Alabang for P6.26 billion. This deal will also raise dividends per share by 5.65% for shareholders. The acquisition will boost Filinvest's shareholding in the REIT from 51.06% to 63.27%. The mall's gross leasable area will expand by 37% to 452,310 square meters. The transaction is set for completion in March, with regulatory approval expected by May. Filinvest REIT plans to list additional shares on the Philippine Stock Exchange later this year.