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FEU buys Cavite lot for expansion plans

Posted on May 28, 2013 10:47:12 PM [ BusinessWorld Online ]
LISTED Far Eastern University, Inc. (FEU) is readying its expansion, yesterday announcing that it has acquired a land in the province of Cavite.
“FEU purchased a certain parcel of land with an area of 1.6 hectares located at Barangay Biluso, Silang, Cavite from Moldex Realty, Inc. for full amount of P40.22 million on May 27,” FEU said in a disclosure.
“Such parcel of land was acquired for purpose of future expansion,” the company said.
FEU said its board of directors approved the acquisition during its meeting on Feb. 21.
Last November, FEU said its board approved the creation of a new campus in Alabang in Muntinlupa City, broadening the university’s presence to southern Metro Manila.
FEU had hinted plans of expanding south of Metro Manila after its board authorized last July the purchase of a 2.2-hectare property in Filinvest City’s Woods District (West) from developer Filinvest Alabang, Inc.
FEU, established in 1928, is a private nonsectarian school with two campuses in Sampaloc, Manila and Makati City, respectively, as well as three affiliates: FEU East Asia College, FEU Fern College, and Far Eastern College Silang, Inc., the firm’s 2011 annual report showed.
In the first semester of school year 2012-2013, FEU posted an 10.11% increase in student enrollment, attributed to facilities improvements and new course offerings.
In addition, the school implemented a 4.8% tuition increase for the school year, higher than the previous school year’s 4.5% hike.
FEU almost doubled its nine-month (April-December) net income to P275.63 million from P142.50 million in year-ago levels on higher educational revenues.
Shares of FEU were last traded on May 20 at P1,280. -- Cliff Harvey C. Venzon   
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