Acquisitions, developments boost Far Properties’ asset base

Friday, November 15, 2024 | 630 Views |

In the portfolio: Artists rendition of the Choppies Distribution Centre in Francistown

Local property development company, Far Property Company (FPC), has experienced a 10% increase in the value of its assets, which strengthened from P1.4 billion to P1.6 billion in the half year ended June 2024.

The diversified property developer’s assets were bolstered by developments around existing properties as well as acquisitions.

According to the company’s full-year results to June 2024, FPC's reconciliation of investment property, a figure representing additions to property investments, totalled P102 million. This includes direct acquisitions of P42.6 million and subsequent developments to properties of P59.3 million.

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