GOTIANUN-LED developer Filinvest Land Inc. (FLI) plans to enter into a P6.26-billion property-for-share swap with its real estate investment trust, Filinvest REIT Corp. (FILRT), by transferring ownership of its flagship Festival Mall in Muntinlupa in exchange for more than 1.6 billion FILRT shares.
Filinvest Land said in a disclosure on Monday that the tax-free asset swap — approved by the boards of both companies last Jan. 24, 2025 — still had to be greenlit by stockholders and regulators.
