Filinvest Group to shut down in-house construction arm

MANILA, Philippines — The Filinvest Group of the Gotianun family is shutting down its in-house construction company, Dreambuilders Pro Inc., by year-end.

In a stock exchange filing, Filinvest Development Corp. (FDC) and Filinvest Land Inc. (FLI) said the board of Dreambuilders Pro has approved the cessation of the company’s operations effective at the close of business on Dec. 31, 2026.

The Securities and Exchange Commission granted Dreambuilders Pro a certificate of incorporation in 2017 as a full-cycle construction implementor arm of FLI.

FDC holds a 55-percent interest in Dreambuilders Pro, while FLI holds the remaining 45 percent.

The two publicly listed firms said the closure of Dreambuilders Pro would not materially affect them.

“The Filinvest Group will instead rely on third-party contractors in growing its real estate business,” they said.

The Filinvest Group is diversifying its real estate business by expanding residential townships in provincial centers and building industrial parks, particularly along the Luzon economic corridor.

It said the strategy requires a broader and more diverse network of construction service providers across the country.

Real estate remains one of the Filinvest Group’s most important business segments.

In the first half, FDC’s real estate business posted net income of P2.6 billion, 76 percent higher year-on-year, and generated P15.5 billion in revenues and other income, up by 13 percent year-on-year.

The business represented 25 percent and 30 percent of Filinvest Group’s consolidated revenues and net income, respectively.