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Filinvest Development Corporation (PSEFDC), is the publicly-listed holding company for the various firms in the Filinvest group. It was established in 1955 in the Philippines by Andrew L. Gotianun Sr. and his wife, Mercedes T. Gotianun, as a used-car financing company.[1] It has holdings in real estate development and leasing, the sales of housing units, and hotel and resort management, banking and financial services, sugar and power.[2][3] It is based in Metro Manila, Philippines and is owned by the Gotianun family.[4]

Filinvest Development Corporation is involved in the hotel and tourism industry, and owns the hotel brands Crimson and Quest, the latter of which is a new value-brand hotel. In September 2014 it was reported that it planned on opening 5,000 hotel rooms within five years. At that time, company officials stated that it had over 1,000 hotel rooms. During this time it was also reported that the company was building seven hotels, two of which will be under the new Quest value brand.[5]

In 1996, the company owned approximately 4,000 acres "of prime real estate around Manila", along with land in Cebu and Fort Bonifacio.[6]

Subsidiaries

EastWest Unibank

EastWest Banking Corporation is a universal bank in the Philippines known as EastWest Unibank. Its headquarters is at The Beaufort, the flagship luxury condominium project of Filinvest Development Corporation in Bonifacio Global City with extension offices at PBCom Tower Makati (Call Center Division), Hanston Building (Customer Care), and Pasong Tamo Extension (formerly the country head office of Levi's Philippines).

EastWest Rural Bank, Inc.

EastWest Rural Bank, Inc. or EWRB is a premiere rural bank and a wholly owned subsidiary of EastWest Banking Corporation and Filinvest Development Corporation. Established in 2013 when EastWest Banking Corporation acquired FinMan Bank, Inc., a 16-year old Pasig based rural bank and Green Bank, Inc. (also known as Green Bank of Caraga), a 46-branch rural bank based in Butuan City. Before its acquisition, it was the largest rural bank in Caraga Region in terms of assets. Its headquarters is located in Pasig City.

FDC Utilities, Inc.

FDC Utilities, Inc. (FDCUI), a wholly owned subsidiary of the Filinvest Development Corporation.

Chroma Hospitality, Inc.

All Filinvest hotels are managed through Chroma Hospitality, Inc. (formerly FilArchipelago Hospitality, Inc.), a joint venture with Archipelago International of Singapore. Through Chroma, FDC caters to various segments of the hospitality sector through the 5-star Crimson brand, 3-star Quest brand and Crimson Resort and Spa in Boracay.

Filinvest Alabang, Inc.

Filinvest Alabang, Inc. (FAI) was incorporated on August 25, 1993 in connection with the development of Filinvest City in Alabang, a joint venture with the government’s Public Estates Authority. Filinvest City, a 244-hectare mixed-use development project located at the southern end of Metro Manila and adjacent to the South Luzon Expressway in Alabang.

Filinvest Land, Inc.

Filinvest Land, Inc. is a real estate firm subsidiary of Filinvest Development Corporation is also owned by the Gotianun family.[7] The company is into mall operation, subdivision, and mid rise and high rise condominium development. It has landbanks in Luzon, Visayas, and Mindanao, aimed at future developments projects of its parent firm.

Filinvest Land, Inc. developed Timberland Heights in San Mateo, Rizal, Philippines, a 677-hectare suburban housing community.[8] Part of the community's design included incorporating elements of sustainable development, such as preserving the area's natural landscape, the planting of 10,000 trees, and stipulating a requirement that buyers are to plant "at least one tree for every 250 square meters of their lots".[8] These various programs are overseen by the "Department of Environment and Natural Resources and the forester employed by the township".[8] The community also has a nursery where various species of trees are grown.[8]

  • ALG Holdings, Inc.
  • Filinvest Asia Corporation
  • Davao Sugar Central Corporation
  • Pacific Sugar Holdings
  • Cyberzone Properties, Inc.
  • The Palms Country Club
  • Festival Supermall, Inc.
  • Filinvest Lifemalls
  • EastWest Ageas Life Insurance Corporation
  • EastWest Insurance Brokerage, Inc.
  • EastWest Leasing and Finance Corporation

See also

References

  1. ^ Suryadinata, L.; Studies, Institute of Southeast Asian; (Singapore), Chinese Heritage Center (2012). Southeast Asian Personalities of Chinese Descent: Glossary and index. Southeast Asian Personalities of Chinese Descent: A Biographical Dictionary. Institute of Southeast Asian Studies. p. 9. ISBN 978-981-4414-13-5. 
  2. ^ "Filinvest Development Corp". Bloomberg Business. Retrieved 3 March 2015. 
  3. ^ "Our Businesses". Filinvest Development Corporation. Retrieved 3 March 2015. 
  4. ^ "Company Profile". Bloomberg Business. Retrieved 3 March 2015. 
  5. ^ Loyola, James (September 28, 2014). "Filinvest aims for 5,000 hotel rooms". Manila Bulletin. Retrieved March 4, 2015. 
  6. ^ Cragg, Claudia (1996). The New Taipans: A Vital Source Book on the People and Business of the Pacific Rim. Arrow business books. Arrow Books. p. 116. ISBN 978-0-09-968591-3. 
  7. ^ Krinks, P. (2003). The Economy of the Philippines: Elites, Inequalities and Economic Restructuring. Routledge Studies in the Growth Economies of Asia. Taylor & Francis. p. 238. ISBN 978-1-134-97549-5. 
  8. ^ a b c d Samaniego, Theresa S. (March 4, 2015). "Building sustainable communities to serve man, Mother Earth". Philippine Daily Inquirer. Retrieved March 4, 2015. 

Further reading

External links