Federal Land to catch up in new project launches: GT Capital

ABS-CBN News

<p>MANILA -- GT Capital sees 2026 as the breakout year for its real estate arm Federal Land. </p><p>The conglomerate&#x27;s new chief finance officer, George Uy-Tioco, said this year has been different for Federal Land because it has not been launching a lot of new projects.</p><p>&quot;During the height of the pandemic, between 2020 and 2022, Federal Land actually stopped launching new products and new projects. So, during that period, if I recall, from the information of my predecessors, there was really only one project that was launched during that period,&quot; he said.</p><p>&quot;So you have this, because of the delay in actually developing projects, we’re actually in this period now where we’re actually seeing the impact of that,&quot; he noted.</p><p>&quot;But the other important thing to note also is that we also had a very good last year, with a launch of a number of high-end products and high-end projects in the (Bonifacio Global City) area which really created effectively a banner first half of for Federal Land last year.&quot;</p><p>He noted that the company is now banking on a 700-hectare development in Cavite to help it catch up in the property space.</p><p>He also said that they are focusing on their joint venture with Nomura to look at opportunities to widen their portfolio.</p><div><a href="https://news.abs-cbn.com/business/01/28/22/federal-land-forms-joint-venture-with-nomura-real-estate">Federal Land forms joint venture with Japan&#x27;s Nomura Real Estate</a></div><style type="text/css" id="isPasted">
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</style><p>&quot;Federal Land had always been known to be a high-end type, high-rise developer of projects within Metro Manila. With the property we have now in the south, about 700 hectares of land the Cavite area, we’re now in the position to broaden and diversify our product base.&quot;</p><style type="text/css" id="isPasted">
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</style><p>&quot;Latest reports from different property companies and property advisers indicate that the demand is really coming from developments outside Metro Manila, primarily horizontal developments, and that’s an area that we are beginning to position ourselves,&quot; he said.</p><p>Asked when he sees Federal Land catching up with project launches, the executive said, &quot;Just looking at timing, I would guess probably in maybe about 2026, maybe towards the end of that.&quot;</p><p>Federal Land&#x27;s net income reached P775 million in the first half of this year, lower than the P1.46 billion it made in the same period last year.</p><style type="text/css" id="isPasted">
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</style><p>GT Capital&#x27;s net income was at P13.8 billion from January to June, down 17 percent from last year&#x27;s numbers.</p><p>--ANC, 19 August 2024</p><style type="text/css" id="isPasted">
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<p>GT Capital sees 2026 as the breakout year for its real estate arm Federal Land.</p>

Federal Land to catch up in new project launches: GT Capital | ABS-CBN

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Federal Land to catch up in new project launches: GT Capital

Federal Land to catch up in new project launches: GT Capital

ABS-CBN News

Published Aug 19, 2024 04:36 PM PHT

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