GT Capital Holdings, Inc. (GT Capital/ GTCAP) recently disclosed an 82% growth in its core net income to a record high of Php28.8 billion for full-year 2023 from Php15.9 billion in the previous year. The conglomerate’s consolidated net income increased 57% to Php28.7 billion in 2023 from Php18.4 billion in 2022.
Federal Land’s 2023 Performance and Growth Contribution
Contributing to the conglomerate’s historic high performance, Federal Land’s total revenues of Php20.8 billion in 2023 marked a 54% boost from Php13.4 billion in the previous year. Federal Land reported a significant 65% core net income increase of Php2.1 billion in 2023, from Php1.3 billion the year before – making it the 2nd highest performer among GT Capital subsidiaries.
Increasing by 24%, reservation sales for the year reached Php23.0 billion compared to Php18.5 billion in 2022. This was mainly driven by sales of The Seasons Residences, a joint venture with Nomura Real Estate Development Co., Ltd. (Nomura) and Isetan Mitsukoshi Holdings Ltd., as well as the Grand Hyatt Residences South Tower. Both aforementioned projects are located in Bonifacio Global City (BGC), Taguig. Real estate sales rose by 61% to Php17.6 billion in 2023, compared to Php10.9 billion in the previous year.
2023 Achievements
In 2023, Federal Land marked significant growth and innovation in the Philippine real estate landscape. It unveiled the second tower of The Grand Midori Ortigas, epitomizing the essence of Zen living in the heart of Ortigas Center. This is part of a two-tower residential complex designed to embody mindfulness and tranquility.
Federal Land also launched the fourth and final tower of The Seasons Residences in Bonifacio Global City, Taguig. Meant to bring a slice of Japan to Manila, the well-thought-out vertical was conceptualized in partnership with Nomura and Isetan Mitsukoshi. In addition to this, MITSUKOSHI BGC was also introduced to the local market as the first Japanese mall in the Philippines – showcasing a plethora of lifestyle options the iconic 350-year-old Japanese brand can offer.
Under its Horizon Land brand, Federal Land launched Quantum Residences and Siena Towers, which cater to the smart-value segment. Quantum Residences, a three-tower condominium along Taft Avenue in Pasay City, promises strategic urban living near major city thoroughfares, while Siena Towers in Marikina City offers modern residential comforts in a two-tower complex.
The year also marked the debut of Federal Land Communities (FLC), the developer’s pioneering venture into fully-integrated developments with ambitious plans for ten townships, including the innovative Grand Central Park in Bonifacio Global City, the Met Park in Pasay City, and a burgeoning community in Marikina. Federal Land Communities’ development expansion continued with the unveiling of Riverpark, a sprawling 600-hectare township in General Trias, Cavite, which sets a new benchmark for integrated living environments.
Federal Land NRE Global Inc. (FNG), a synergistic partnership between Federal Land and NRE, introduced its brand with a focus on merging Japanese innovation with Filipino sensibility. The Observatory, FNG’s debut project, is a residential complex set to redefine urban living in Mandaluyong City. It is strategically positioned within a short distance from the country’s major business districts. The new JV company also launched Yume at Riverpark, an 18-hectare Japanese-inspired neighborhood within Federal Land’s expansive Riverpark township in Cavite. The horizontal residential project aims to bring an added touch of Japanese elegance and design philosophy to the Philippine landscape. These developments are part of Federal Land and NRE’s broader initiative to infuse global cultural style into local communities.
2024 Q1 Highlights
This year, Federal Land introduced Riverpark, a master-planned mixed-use community in General Trias, Cavite which merges urban sophistication with a commitment to harmonious living, placing nature at its very core. Beyond the newly launched 1.8-kilometer bike trail, Riverpark’s expansive 600-hectare township earmarks 70 hectares for parks and greenways. Federal Land Communities represents a commitment to adaptability, versatility, and innovation — a commitment to creating communities that reflect the evolving needs and aspirations of the modern Filipino. Riverpark, “The Next Gen City of the South,” embodies this commitment. Its extensive scope, thoughtful planning, and strategic positioning promise not only an enhanced quality of life for its residents but also economic growth for the region.
Federal Land also unveiled its newest township development along the Sta. Rosa-Tagaytay growth corridor. Meadowcrest, a 48-ha multi-use, masterplanned community by premier real estate developer Federal Land, Inc., will offer a distinct lifestyle and business environment that will be intimate yet complete. To be defined by its charming residential enclaves, commercial hubs, and lush green spaces, Meadowcrest will offer a harmonious blend of convenience, connectivity, and community living in Biñan. Meadowcrest utilizes the 15-minute urban planning concept through its walkable, human-scale neighborhood design with integrated pedestrian and dedicated bike lanes amongst lush tree canopies, scenic landscaping, and dedicated parklets.
Nestled within is Hartwood Village, the first residential component in Laguna township. Hartwood Village blends the tranquil allure of suburban living with seamless connectivity to urban conveniences. Here, the principles of ‘Hygge’ – coziness, simplicity, and contentment – will pervade every aspect of daily life, creating a nurturing environment where residents can thrive and live full lives.
With only a few units left, Federal Land RFO properties will continue its push to offer prospective buyers and investors move-in ready homes in prime locations where residents can thrive and live full lives while taking into consideration capital appreciation.
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