Company: Filinvest REIT Corp., Muntinlupa City, Philippines
Company Description: Filinvest REIT Corp. (FILRT) is the Philippines' first sustainability-themed REIT and the leading provider of world-class, sustainable office spaces.
Nomination Category: Sustainability Categories
Nomination Sub Category: Sustainability Product of the Year - in Asia, Australia and New Zealand
 Nomination Title: Filinvest REIT Corp. Sustainability Leadership
- Which will you submit for your nomination in this category, a video of up to five (5) minutes in length about the achievements of the nominated organization since 1 January 2022, OR written answers to the questions for this category? (Choose one):
Written answers to the questions
- If you are submitting a video of up to five (5) minutes in length, provide the URL of the nominated video here, OR attach it to your entry via the "Add Attachments, Videos, or Links to This Entry" link above, through which you may also upload a copy of your video.
- If you are providing written answers for your submission, you must provide an answer to this first question: Briefly describe the nominated organization: its history and past performance (up to 200 words):
Total 175 words used.
Filinvest REIT Corp. FILRT, backed by Filinvest Land, is the first sustainability-themed real estate investment trust in the Philippines. Listed on the Philippine Stock Exchange on August 12, 2021, FILRT's portfolio includes 18 assets predominantly in Filinvest City, a master-planned township in Alabang, Metro Manila. Filinvest City integrates office spaces, retail centers, hotels, affordable housing, schools, and hospitals with extensive green spaces and recreational trails. The portfolio also includes an office building in Cebu IT Park and land leased to the award-winning Crimson Resort & Spa Boracay.
Filinvest City holds the distinction of being the first central business district CBD in the Philippines to receive LEED® v4 Gold for Neighborhood Development Plan and a 3-star BERDE certification for its sustainable design. Axis Tower One and Vector Three, part of FILRT’s portfolio, are LEED Gold-certified buildings. In 2023, FILRT's portfolio had an 83% occupancy rate, higher than the market average, with a weighted average lease expiry of 6.9 years. It successfully renewed 77% of expiring leases, underscoring its resilience amidst a shifting global workplace landscape.
- If you are providing written answers for your submission, you must provide an answer to this second question: Outline the organization's achievements since the beginning of 2022 that you wish to bring to the judges' attention (up to 250 words):
Total 249 words used.
District Cooling System DCS: 16 FILRT buildings are connected to the largest DCS in the country, cutting electricity consumption by up to 40% and water use, greenhouse gas, and carbon emissions by 20%, saving 11,500 tons of CO₂ annually.
Energy Conservation: Transitioned from CFL to LED lighting across all properties, reducing greenhouse gas emissions by 50%. Implemented Variable Frequency Drives VFD and soft starters for building pumps and motors, achieving up to 40% energy savings.
Mobility: Introduced the Eco-loop, a fully integrated electric-powered public transport system with zero carbon emissions, enhancing green mobility within Filinvest City.
Water Management: Implemented wastewater treatment and effluent reuse for irrigation in Alabang. Installed a Reverse Osmosis system in Cebu for recycling wastewater for cooling towers.
Solid Waste Management: All buildings feature material recovery facilities and solid waste segregation. Partnerships with ABS-CBN Foundation and GreenAntz for managing hazardous waste and promoting circular economy practices.
Green Certification: Achieved LEED Gold for Axis Tower One and Vector Three. In 2023, seven properties obtained EDGE certification, highest number of EDGE-certified office buildings among the REITs in the Philippines.
Renewable Energy: Eight office buildings were fully powered by renewable energy in 2023. Added five more properties in early 2024, accounting for 76% of its portfolio 100% powered by RE.
Awards: Won bronze at the 2023 Stevie International Business Awards and a 3-time Circle of Excellence Awardee for Sustainability Company of the Year at the Asia CEO Awards. Earned 1-Golden Arrow from the ASEAN Corporate Governance Scorecard ACGS.
- If you are providing written answers for your submission, you must provide an answer to this third question: Explain why the achievements you have highlighted are unique or significant. If possible compare the achievements to the performance of other players in your industry and/or to the organization's past performance (up to 250 words):
Total 226 words used.
Filinvest REIT Corp. FILRT stands out in the Philippine real estate market for its pioneering approach as the first sustainability-themed REIT. Launched on the Philippine Stock Exchange in 2021, FILRT is backed by Filinvest Land, a leading property developer with a diverse portfolio across the Philippines. FILRT's assets are primarily located in the award-winning Filinvest City in Alabang, recognized for its master-planned, integrated township that promotes a live-work-play-learn lifestyle. This city is the first and only central business district CBD in the Philippines to receive the LEED® v4 Gold for Neighborhood Development Plan certification and a 3-star BERDE Certification for its green initiatives.
FILRT's distinctive environmental commitment is evident through its 16 buildings connected to the country's largest DCS, significantly reducing energy and water usage, as well as carbon emissions. FILRT features the Eco-loop, the first fully integrated electric-powered public transport system in a private development in the Philippines.
FILRT's environmental stewardship extends to water management and waste reduction, including advanced wastewater treatment and partnerships for recycling initiatives. It is also a leader in renewable energy, with 76% of its properties powered by renewable sources as of early 2024. This sustainability focus has earned FILRT multiple accolades, such as awards for sustainable development and office excellence, and recognition for sustainability leadership in Asia, emphasizing its role as a trailblazer in integrating sustainability within the REIT sector.
- You have the option to answer this final question: Reference any attachments of supporting materials throughout this nomination and how they provide evidence of the claims you have made in this nomination (up to 250 words):
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