Rebounding economy lifts APVI’s 2023 earnings

Altus Property Ventures (APVI), a subsidiary of the Gokongwei family’s Robinsons Land Corp., reported a 29% jump in earnings to P139.1 million last year.

This increase was driven by a 4.4% rise in rental revenue, reaching P203.1 million compared to the previous year.

APVI credits the strong performance to a fully recovered economy and healthy consumer spending.

The company noted a significant increase in foot traffic and revenue across various sectors like food, fashion, leisure, services, and entertainment.

APVI is involved in the buying, selling, development, leasing, and management of real estate properties.

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