Filinvest

In this article we will delve into the fascinating world of Filinvest, exploring its origins, its impact on society and its relevance today. From its first manifestations to its evolution over time, Filinvest has left an indelible mark on various aspects of daily life. Along these lines, we will carefully analyze the different aspects that make Filinvest a topic of universal interest, as well as the implications it has in different contexts and cultures. It doesn't matter if you are an expert on the subject or if you are just beginning to discover its importance, this article will give you a complete and enriching insight into Filinvest.

This article is about the company. For the business district, see Filinvest City.
Not to be confused with Fininvest.

Filinvest Development Corporation
PSE: FDC
Industry
Founded1955 (1955)
Founders
Headquarters6th Floor, The Beaufort, 5th Ave corner 23rd St., Bonifacio Global City,
Taguig, Metro Manila
,
Philippines
Key people
SubsidiariesEast 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
Website

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]

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

Logo of Chroma Hospitality, Inc.
Brand logo of Filinvest City
(formerly Filinvest Corporate City)
Logo of Filinvest Land Incorporated
Crimson Hotel in September 2018
Northgate Cyberzone in September 2018
Filinvest Tower at Northgate Cyberzone, Filinvest City in September 2018

Banking and finance

  • 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

  • FDC Utilities, Inc. (FDCUI) – a wholly owned subsidiary of the Filinvest Development Corporation.

Hospitality

Filinvest 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

  • 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]
  • Cyberzone Properties, Inc.
  • Filigree: distinguished itself as a high-end brand of properties in the realm of Philippine real estate.

Transportation

Others

  • ALG Holdings, Inc.
  • Filinvest Asia Corporation
  • Davao Sugar Central Corporation
  • Pacific Sugar Holdings

See also

References

  1. ^ 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.
  2. ^ "Filinvest Development Corp". Bloomberg Business. Retrieved March 3, 2015.
  3. ^ "Our Businesses". Filinvest Development Corporation. Retrieved March 3, 2015.
  4. ^ "Company Profile". Bloomberg Business. Retrieved March 3, 2015.
  5. ^ Loyola, James (September 28, 2014). "Filinvest aims for 5,000 hotel rooms". Manila Bulletin. Retrieved March 4, 2015.
  6. ^ 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.
  7. ^ "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
  8. ^ 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.
  9. ^ 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.
  10. ^ "Lipad Corporation takes over Clark airport operations". Rappler. August 18, 2019. Retrieved September 20, 2019.
  11. ^ Orejas, Tonette (August 16, 2019). "Lipad consortium takes over Clark airport". Philippine Daily Inquirer. Retrieved September 20, 2019.

Further reading