Filinvest Development Corp, Gotianun Group’s listed holding firm is expanding in Thailand. It just acquired a hotel operator in the said country.
FDC announced it was going to acquire some shares of the Choengmon Real Estate Co. The timeliness is apparent, since the hotel operator is currently developing an international five-star luxury resort.
According to Phil Star, in the future, Crimson brand, the subsidiary of FDC will be the one operating the new resort.
FDC is involved in many types of businesses through its subsidiaries.
It currently has mall, theater, as well as resort hotel operations. FDC is also involved in banking and financial services. It even diversified into the sugar farming and milling sectors.
FDC also has a business in power generation.
Presently, the company has a slew of hospitality projects, including but not limited to the Crimson Resort and Spa Mactan, Crimson Hotel in Filinvest City, Alabang, and Quest Hotels.
It operates also different conference centers located in Cebu and Clark.
Under its name is also the Mimosa Golf in Clark.
Filinvest Development Corp Subsidiaries Are Everywhere
FDC’s notable subsidiaries are Filinvest Alabang and Filinvest Land. Also under it are Chroma Hospitality, Filinvest Hospitality Corp., and then Seascapes Resorts.
East West Banking Corp., FDC Utilities, Countrywide Water Service, and many more others are also FDC subsidiaries.
Filinvest Hospitality is a strong name in the business of hospitality. Currently, it has six managed properties, totaling 1,800 rooms covered by the Crimson and Quest brands.
The company is looking to increase the number of rooms to 5,000 by 2023.
FDC Is All About Timing
It appears that FDC is all about timing. It seems to invest or engage in strategies that are timely and purposeful.
August 2019 marks the company’s foray into the water business. Business World reported that FDC was venturing into this unknown territory through a partnership with Singapore-based Hitachi Aqua-Tech Engineering Pte. Ltd.
The agreement signed guides the formation of a joint venture firm that will cover the distribution, supply, as well as sale of potable water to Filipinos.
The venture also involves rehabilitating waterworks, sewerage, and sanitations systems.
The announcement was quite timely, given that Metro Manilla just recovered from a water crisis. Because it did not rain throughout the summer season, water levels fell significantly low, well below the critical threshold at Angat Dam.
Reportedly, FDC also committed to spend P39 billion in capital expenditures in 2019 for its expansion projects in New Clark City.
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