When Filinvest REIT (FILRT) debuted in 2021, it marked Filinvest’s entry into the country’s growing real estate investment trust (REIT) market. Since then, the REIT landscape has become more competitive, with players like AREIT, RCR, and MREIT taking strong positions. But how does FILRT compare, and is it still worth investing in today?
Let’s break down FILRT’s performance, outlook, and what investors should keep an eye on.
Overview: What is Filinvest REIT (FILRT)?
Filinvest REIT Corp. (FILRT) is backed by the Gotianun-led Filinvest Land, Inc. It owns and manages a portfolio of Grade A office buildings primarily located in Northgate Cyberzone, Alabang — a PEZA-registered IT park that houses several BPO and tech companies.
Its portfolio includes 17 office buildings with over 300,000 square meters of gross leasable area. The assets are designed to cater to multinational and outsourcing firms, many of which prefer PEZA-accredited spaces for tax incentives.
FILRT’s Performance
FILRT’s share price has seen modest movement since its IPO, trading below its offer price of ₱7.00 for most of its post-listing life. As of 2025, the stock typically hovers between ₱3.50 to ₱4.50 — making it one of the more affordable REITs in the market.
Dividends
One of the main attractions of REITs is the dividend yield, and FILRT has consistently paid out dividends since listing. However, its yield tends to be on the lower side compared to peers — hovering around 6% to 7% annually, slightly below the 7–8% yields seen in AREIT or RCR.
Financial Stability
FILRT maintains a conservative debt position and stable occupancy rates, averaging around 85% to 90%. While some BPO tenants have reduced space due to hybrid work trends, the company has been able to keep its portfolio resilient through long-term leases and steady demand in the Alabang area.
Outlook for 2025 and Beyond
The next few years will test FILRT’s ability to adapt as the REIT sector matures and interest rates remain elevated. Investors are becoming more selective, preferring REITs that show clear growth pipelines and geographic diversity.
Key Growth Drivers:
- Sustainability Focus – FILRT markets itself as the country’s first sustainability-themed REIT. Its green-certified buildings may attract eco-conscious tenants and investors.
- Potential Asset Infusion – Filinvest Land still has several commercial properties that could be injected into FILRT in the future, potentially increasing rental income and portfolio size.
- Economic Recovery in the South – As more companies decentralize away from Metro Manila’s business districts, Alabang could benefit from renewed office demand.
Challenges:
- Limited diversification outside Alabang
- Rising interest rates that affect REIT valuations
- Competition from larger and more geographically diversified REITs like AREIT and RCR
Is FILRT a Good Investment?
FILRT may not be the highest-yielding REIT, but it offers stability and long-term potential for those who believe in the Alabang growth story. Its sustainability angle, strong sponsor backing, and low debt levels make it a relatively safe choice for conservative investors.
However, for those seeking faster growth or higher dividends, other REITs might provide better short-term opportunities.
Blogger’s Corner
FILRT’s story is about steady progress rather than explosive growth. It’s not the flashiest REIT out there, but it represents a solid option for diversification — especially for investors who believe the South of Metro Manila will continue to expand as a business hub.
If you’re building a REIT portfolio, it’s worth including FILRT as part of your mix — but manage your expectations. This is a play on stability and sustainability, not aggressive returns.