Filinvest Land to dissolve 3 non-operating units

Filinvest Land Inc., a real estate subsidiary of the Gotianun family, is set to dissolve three non-operating subsidiaries in an effort to streamline its corporate structure. The subsidiaries – Proleads Philippines Inc., Realpros Philippines Inc., and Filinvest Lifemalls Mimosa Inc. – have filed applications to amend their articles of incorporation to shorten their corporate term.

This move is expected to have no significant financial, business, or operational impact on the company or its stockholders. The subsidiaries do not possess substantial assets or liabilities, and any obligations would be settled under the relevant laws before dissolution is finalized. Proleads Philippines Inc. and Realpros Philippines Inc. were initially established to provide marketing and administrative support services for Filinvest Land's real estate projects.

Their dissolution will not disrupt ongoing operations, as other marketing entities of Filinvest Land may take over any necessary marketing services. Filinvest Lifemalls Mimosa Inc. has not commenced commercial operations since its incorporation and previously considered shortening its corporate term as part of a broader review of its corporate structure.

Despite this, Filinvest Clark Mimosa Inc., a subsidiary of Filinvest Land, will continue developing the Mimosa Lifestyle Mall under its ownership, development, and management. Filinvest Land is a leading full-range property developer in the Philippines, with a diverse portfolio encompassing affordable homes, townships, mixed-use developments, condominiums, office buildings, shopping centers, and leisure projects.