Filinvest Development Corporation (PSE: FDC) is the publicly listed holding company for the various firms in the Filinvest group. It was established in 1955 in the Philippines by Andrew L. Gotianun Sr. and his wife, Mercedes Gotianun, as a used-car financing company.[1] It has holdings in real estate development and leasing, the sales of housing units, and hotel and resort management, banking and financial services, sugar and power.[2][3] It is based in Metro Manila, Philippines, and is owned by the Gotianun family.[4]
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| Founded | 1955 |
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| Headquarters | 6th Floor, The Beaufort, 5th Ave corner 23rd St., Bonifacio Global City, , Philippines |
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| Subsidiaries | East West Banking Corporation EastWest Rural Bank, Inc. FDC Utilities, Inc. Chroma Hospitality, Inc. Filinvest Alabang, Inc. Filinvest Land, Inc. ALG Holdings, Inc. Filinvest Asia Corporation Davao Sugar Central Corporation Pacific Sugar Holdings Cyberzone Properties, Inc. The Palms Country Club Festival Supermall, Inc. EastWest Ageas Life Insurance Corporation EastWest Insurance Brokerage, Inc. EastWest Leasing and Finance Corporation LIPAD Corporation |
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Filinvest Development Corporation is involved in the hotel and tourism industry, and owns the hotel brands Crimson and Quest, the latter of which is a new value-brand hotel. In September 2014, it was reported that it planned on opening 5,000 hotel rooms within five years. At that time, company officials stated that it had over 1,000 hotel rooms. During this time it was also reported that the company was building seven hotels, two of which will be under the new Quest value brand.[5]
In 1996, the company owned approximately 4,000 acres "of prime real estate around Manila", along with land in Cebu and Fort Bonifacio.[6]
Subsidiaries
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(formerly Filinvest Corporate City)
Banking and finance
edit- EastWest Banking Corporation – is a universal bank in the Philippines known as EastWest Unibank. Its headquarters is at The Beaufort, the flagship luxury condominium project of Filinvest Development Corporation in Bonifacio Global City with extension offices at PBCom Tower Makati (Call Center Division), Hanston Building (Customer Care), and Pasong Tamo Extension (formerly the country head office of Levi's Philippines).
- EastWest Rural Bank, Inc. – or EWRB is a premier rural bank and a wholly owned subsidiary of EastWest Banking Corporation and Filinvest Development Corporation. Established in 2013 when EastWest Banking Corporation acquired FinMan Bank, Inc., a 16-year-old Pasig-based rural bank and Green Bank, Inc. (also known as Green Bank of Caraga), a 46-branch rural bank based in Butuan City. Before its acquisition, it was the largest rural bank in Caraga Region in terms of assets. Its headquarters is located in Pasig.
- EastWest Ageas Life Insurance Corporation
- EastWest Insurance Brokerage, Inc.
- EastWest Leasing and Finance Corporation
Utilities
edit- FDC Utilities, Inc. (FDCUI) – a wholly owned subsidiary of the Filinvest Development Corporation.
Hospitality
editFilinvest hotels are managed through subsidiaries Filinvest Hospitality Corporation (formerly FDC Hotels Corporation) and Chroma Hospitality, Inc. (formerly FilArchipelago Hospitality, Inc.), a joint venture with Archipelago International of Indonesia, respectively. The earlier, a wholly-owned subsidiary was formed to serve as the primary developer and owners’ representative of Group-owned properties.[7] On the other hand, through Chroma, FDC caters to various segments of the hospitality sector through the 5-star Crimson brand, 3-star Quest brand and Crimson Resort and Spa in Boracay.
Real estate
edit- Filinvest Alabang, Inc. (FAI) – was incorporated on August 25, 1993, in connection with the development of Filinvest City in Alabang, a joint venture with the government's Public Estates Authority. Filinvest City, a 244-hectare mixed-use development project located at the southern end of Metro Manila and adjacent to the South Luzon Expressway in Alabang.
- Filinvest Land, Inc. – is a real estate firm subsidiary of Filinvest Development Corporation also owned by the Gotianun family.[8] The company is into mall operation, subdivision, and mid rise and high rise condominium development. It has landbanks in Luzon, Visayas, and Mindanao, aimed at future developments projects of its parent firm. Developed Timberland Heights in San Mateo, Rizal, Philippines, a 677-hectare suburban housing community.[9] Part of the community's design included incorporating elements of sustainable development, such as preserving the area's natural landscape, the planting of 10,000 trees, and stipulating a requirement that buyers are to plant "at least one tree for every 250 square meters of their lots".[9] These various programs are overseen by the "Department of Environment and Natural Resources and the forester employed by the township".[9] The community also has a nursery where various species of trees are grown.[9]
- Filinvest Malls
- The Palms Country Club
- Cyberzone Properties, Inc.
- Filigree: distinguished itself as a high-end brand of properties in the realm of Philippine real estate.
Transportation
edit- LIPAD Corporation (operator of Clark International Airport) – a consortium with JG Summit Holdings, Philippine Airport Ground Support Solutions Inc., and Changi Airports Philippines Pte. Ltd.[10][11]
Others
edit- ALG Holdings, Inc.
- Filinvest Asia Corporation
- Davao Sugar Central Corporation
- Pacific Sugar Holdings
See also
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References
edit- ^ Suryadinata, L.; Studies, Institute of Southeast Asian; (Singapore), Chinese Heritage Center (2012). Southeast Asian Personalities of Chinese Descent: Glossary and index. Southeast Asian Personalities of Chinese Descent: A Biographical Dictionary. Institute of Southeast Asian Studies. p. 9. ISBN 978-981-4414-13-5.
- ^ "Filinvest Development Corp". Bloomberg Business. Retrieved March 3, 2015.
- ^ "Our Businesses". Filinvest Development Corporation. Retrieved March 3, 2015.
- ^ "Company Profile". Bloomberg Business. Retrieved March 3, 2015.
- ^ Loyola, James (September 28, 2014). "Filinvest aims for 5,000 hotel rooms". Manila Bulletin. Retrieved March 4, 2015.
- ^ Cragg, Claudia (1996). The New Taipans: A Vital Source Book on the People and Business of the Pacific Rim. Arrow business books. Arrow Books. p. 116. ISBN 978-0-09-968591-3.
- ^ "FDC - ANNUAL REPORT PURSUANT TO SECTION 17 OF THE SECURITIES REGULATION CODE AND SECTION 141 OF THE CORPORATION CODE OF THE PHILIPPINES", Philippine Stock Exchange "EDGE" Disclosure Portal, May 7, 2021, retrieved May 23, 2021
- ^ Krinks, P. (2003). The Economy of the Philippines: Elites, Inequalities and Economic Restructuring. Routledge Studies in the Growth Economies of Asia. Taylor & Francis. p. 238. ISBN 978-1-134-97549-5.
- ^ a b c d Samaniego, Theresa S. (March 4, 2015). "Building sustainable communities to serve man, Mother Earth". Philippine Daily Inquirer. Retrieved March 4, 2015.
- ^ "Lipad Corporation takes over Clark airport operations". Rappler. August 18, 2019. Retrieved September 20, 2019.
- ^ Orejas, Tonette (August 16, 2019). "Lipad consortium takes over Clark airport". Philippine Daily Inquirer. Retrieved September 20, 2019.
Further reading
edit- Austria, Jenniffer B. (January 11, 2015). "Filinvest Land spars with Megawide again". Manila Standard. Retrieved October 3, 2022.
- "A nature sanctuary by Filinvest". Yahoo News Philippines. January 11, 2015. Retrieved March 4, 2015.
- Romanillos, Peter L. (November 26, 2014). "Filinvest Cyberzone soft opening set". Cebu Daily News. Retrieved March 3, 2015.
- Galolo, Jeandie O. (September 5, 2014). "Filinvest hopes BPO complex will be completed this year". Sun.Star Cebu. Retrieved March 4, 2015.
- "Filinvest Development Corp. stresses importance of observing bid rules". The Freeman. January 17, 2014. Retrieved March 4, 2015.
- Hidalgo, F.S.J. (1999). Sustainable Development-every Filipino's Concern: Let's Help Save the Earth. Rex Bookstore, Inc. pp. 218–219. ISBN 978-971-23-2750-6.