Filinvest hosts Qatar Airways’ first Philippine office

MANILA, Philippines — Qatar Airways Group will set up its first Philippine office with the help of developer Filinvest Land Inc. (FLI).

FLI’s real estate investment trust (REIT) arm was tapped as the airline’s host.

In a stock exchange disclosure earlier this week, Gotianun-led Filinvest REIT Corp. (FILRT) said Qatar Aviation Services (QAS) would be housed within the Filinvest One tower at Northgate Cyberzone in Alabang, Muntinlupa City.

“We look forward to building a strong partnership grounded in our shared commitment to sustainability,” FILRT president and CEO Maricel Brion-Lirio said in a statement.

For their part, QAS said Filinvest One’s green infrastructure aligned with their “carbon-conscious aviation services,” especially since the building fully relied on renewable energy for electricity.

“This move not only strengthens our operational footprint in Asia but also supports local economic development through new job creation,” said Sameer Bhatnagar, QAS manager for operational readiness and airport transition.

This comes just a month after FILRT also welcomed US-based business process outsourcing firm Pinnacle Intelligence Inc. at Filinvest One.

Pinnacle had also cited the building’s sustainability features in choosing it to be the location of their first office in the Philippines.

READ: FLI finds key to defying industry’s woes

Multinational clients

FILRT has emphasized that its multinational clients were among its main growth drivers.

In the first quarter this year, REIT sponsor FLI saw office leasing revenues grow by 19 percent to P1.27 billion.

The developer attributed this to an improvement in FILRT’s occupancy rate during the January to March period. This went up to 81 percent from 79 percent in the same quarter last year.

FILRT has also started diversifying its predominantly office asset base. Last May, it went one step closer to adding the 27-year-old Festival Mall Alabang to its portfolio following the approval of the Securities and Exchange Commission.

READ: SEC okays FILRT takeover of Festival Mall

The company still needs the go signal of the Bureau of Internal Revenue before it can proceed with the property-for-share swap with FLI.

Under the P6.26-billion deal, FILRT will issue 1.63 billion primary common shares to FLI at P3.85 each in exchange for Festival Mall.

The mall will expand FILRT’s gross leasable area by 37 percent to 452,310 square meters. The asset will improve its overall occupancy to 88 percent.

(2025/06/13-02:24)