Filinvest Group plans to invest in big water projects

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The Filivest Group sees the water sector as an emerging opportunity and  it is looking at investing more in water-related projects in the future.

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Joseph Yap, Filinvest Land Inc. (FLI) director, said that the group through its holding firm Filinvest Development Corp. (FDC), will invest in water projects as they see the need for more developments in the future.

“We feel it’s an important sector that will become more and more important in the future. And when we do our real estate, we actually develop our own water system. We run the water (system) for some of our own subdivisions, but we want to do it bigger and better organized,” Yap said.

“We have some exposure in that area so we’re interested to be bigger in the water sector,” he added.

Josephine Gotianun-Yap, FDC president and CEO, told reporters that the company will be participating in two big water projects—the Laguna Lakeshore project and Bulacan Bulk Water project.

Gotianun-Yap said FDC had purchased bid documents for the Bulacan Bulk Water project and plans to participate in it through a consortium with Spanish water firm Leighton and other firms she did not mention.

For Laguna Lakeshore, she said that the company is in the process of forming a real estate-oriented consortium to participate in the bidding.

Yap, on the other hand, said the company is particularly interested in the Laguna Lakeshore project because of the reclamation part of the project, which they are comfortable doing, as well as the project’s water component, which they wanted to enter.“It’s mostly a real estate deal. That’s why we’re taking a look at those. And, we’re interested in getting into water (projects) in a bigger way. The reason we’re looking at Laguna Lakeshore is that there’s a large real estate component—the reclamation,” Yap said.

Gotianun-Yap said that the company is looking at fundraising activities in the future to fund all the projects in the pipeline, as well as the succeeding projects that the group is planning to enter.

“Nothing immediate in the pipeline but definitely because of the projects we are doing, it’s expected that we will have fundraising activities,” Gotianun-Yap said.

Besides water projects, the group is also interested in building tollways.

“On the infra side, the tollway is [the sector]we feel comfortable getting into. But we don’t get involved in Light Rail Transit and railroad projects, only tollways,” Yap said.

FDC saw a 9-percent increase in its first half net profits to P2.9 billion, and revenues for the period rose 4 percent to P19 billion from P18.1 billion.

FDC is owned and operated by the Gotianun family, which has interests in property (Filinvest Land Inc.), banking (EastWest Banking Corp.), mall, theater and resort hotel (Filarchipelago Hospitality Inc. and Filinvest Hotels Corp.), sugar farming and milling (Pacific Sugar Holdings Corp.) and power generation (FDC Utilities Inc.).

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