{"id":330516,"date":"2024-11-21T10:50:49","date_gmt":"2024-11-21T02:50:49","guid":{"rendered":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/?p=330516"},"modified":"2024-11-21T10:50:54","modified_gmt":"2024-11-21T02:50:54","slug":"trade-the-news-filrt-eyes-95-office-occupancy-by-2026","status":"publish","type":"post","link":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/trade-the-news-filrt-eyes-95-office-occupancy-by-2026\/","title":{"rendered":"Trade the News: FILRT eyes 95% office occupancy by 2026"},"content":{"rendered":"\n
Potential Impact of this News<\/strong><\/td>POSITIVE on the stock price<\/strong><\/td><\/tr>
Company<\/strong><\/td>Filinvest REIT Corp.<\/td><\/tr>
Stock Code<\/strong><\/td>FILRT<\/td><\/tr>
Long-term Recommendation on the Stock<\/strong><\/td>Sell<\/td><\/tr>
1-Year Target Price<\/strong><\/td>PHP 3.48<\/td><\/tr><\/tbody><\/table><\/figure>\n\n\n\n
<\/div>\n\n\n\n

Filinvest REIT Corp. (FILRT) targets an expansion of the occupancy rate of its office portfolio to 95% by 2026 as the company looks to sustain growth, its president said.<\/p>\n\n\n\n

\u201cFILRT aims to reach an occupancy of 95% before 2026 driven by tenant diversification. We are now focusing our efforts on signing up more new tenants as we endeavor to further improve FILRT\u2019s occupancy,\u201d FILRT President and Chief Executive Officer Maricel Brion-Lirio said during a recent online briefing.<\/p>\n\n\n\n

Ms. Lirio said the company\u2019s office portfolio, consisting of 17 buildings, had an 83% occupancy rate as of the end of September, led by new leases from traditional companies and business process outsourcing (BPO) tenants.<\/p>\n\n\n\n

\u201cAs of the end of September, we have a total of over 22,800 square meters (sq.m.) of new leases alone. These are a mix of new, traditional companies, BPO tenants, and expansions of existing BPO tenants,\u201d she said.<\/p>\n\n\n\n

\u201cOver 42,400 sq.m. or 75% of expiring leases for 2024 have been renewed, year to date,\u201d she added.<\/p>\n\n\n\n

Ms. Lirio said FILRT is looking at asset infusions to diversify its portfolio and increase its current gross leasable area (GLA) spanning 330,000 sq.m.<\/p>\n\n\n\n

\u201cFILRT targets to double its current GLA of 330,000 sq.m. and diversify its assets through asset infusions from its sponsor, Filinvest Land, Inc., and parent firm Filinvest Development Corp.,\u201d she said.<\/p>\n\n\n\n

\u201cWe have a lot of properties or assets that we are looking into, including the fund manager\u2019s assets, retail, hotels, and industrials,\u201d she added.<\/p>\n\n\n\n

Ms. Lirio also said the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy (CREATE MORE) law will help FILRT\u2019s growth since it will spur more office demand.<\/p>\n\n\n\n

(News Source: Business World<\/a>)<\/em><\/p>\n\n\n\n

<\/div>\n\n\n\n

This report is prepared by PinoyInvestor\u2019s partner broker below. Find out more about our partner brokers<\/a> and sign up to avail their complete trading brokerage services.<\/em><\/em><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Take advantage of the price opportunity that might arise when the news hits. Trade the news!<\/p>\n","protected":false},"author":11,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1371],"tags":[],"class_list":["post-330516","post","type-post","status-publish","format-standard","hentry","category-trade-the-news","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-33"],"_links":{"self":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330516","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/users\/11"}],"replies":[{"embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/comments?post=330516"}],"version-history":[{"count":1,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330516\/revisions"}],"predecessor-version":[{"id":330518,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/posts\/330516\/revisions\/330518"}],"wp:attachment":[{"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/media?parent=330516"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/categories?post=330516"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.pinoyinvestor.com\/smartinvestor\/wp-json\/wp\/v2\/tags?post=330516"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}