Long affirmed as the Philippines’ leading memorial park developer, Forest Lake continues to uphold its commitment to compassionate care, innovative services, and customer-centric core values—factors that, to this day, help the industry pioneer sustain its position in the deathcare industry.
Established in 1997 with parks initially built in Zamboanga and Iloilo, Forest Lake now has 37 operational memorial parks across Luzon, Visayas, and Mindanao.
Forest Lake subsequently demonstrated consistent growth, with significant expansions between 2005 and 2015, doubling its network from 2016 to 2020, and launching eight new parks from 2021 to 2023. To top this off, Forest Lake surpassed Php 3 billion in sales in 2023.
Dedicated to creating “A Better Place” for families to honor and celebrate the lives of their loved ones, Forest Lake continues to grow and set an example for property developers in the country.
Holding the fort as front-runner, Forest Lake’s total revenues in 2023 reached Php 2.47 billion, surpassing its 2022 revenues of Php 2.17 billion (signifying a 12% increase), driven by a higher demand for memorial lots, the introduction of new parks, improved collection efficiency, increased development investments, and higher interment service revenues.
Sales revenues were bolstered by an 18.2% increase, rising from Php 1.73 billion to Php 2.04 billion, while interment revenues grew by 11%, from Php 190 million to Php 210 million.
Likewise, net income before tax increased by 15% (from Php 527.8 million in 2022 to Php 607.2 million in 2023), with an EBITDA increase from Php 608 million in 2022 to Php 733.3 million in 2023, driving profitability upwards, from 28% to 30%.
Additionally, the company's assets saw a 20% increase, including a 51% rise in cash reserves and a 31% increase in sales receivables. Total equity also grew by 18%, supported by a 48% rise in issued capital stock and a 25% increase in unappropriated retained earnings.
"We have our core values to thank for our stature in the industry: Personalized Service, Value Creation, Teamwork, Innovation and Creativity, and Professionalism," says Alfred Xerez-Burgos III, President and CEO of Forest Lake Development Inc. "These values have always guided us in everything we do and have led us to provide the best kind of care to the families we serve."
For almost three decades, Forest Lake has set its “eyes on the prize,” with its mission of “offeringaccessible and affordable memorial parks and services, managed by a professional team that is dedicated to providing value, innovation, and personalized service.” Meanwhile, its vision is “to build a better place where generations of family memories are treasured, immortalized, and celebrated by the living.”
With these guiding principles, Forest Lake continues to expand its services and meet the evolving needs of its customers. It now offers a comprehensive array of products and services designed to provide a complete memorial experience. Lawn Lots are available in standard, premium, and special premium options, with prices ranging from Php 50,000 to Php 250,000. Estate Lots, designed for above-ground interment, are priced between Php 720,000 and Php 3 million per block.
Forest Lake also offers a full range of interment and funeral services, including burial setup, funeral arrangements and preparation, all ensuring a seamless experience for memorial lot buyers. Forest Lake’s “Libing Anywhere” feature even provides customers the flexibility of using memorial lots at any Forest Lake park nationwide, while the “Libre Burol” feature grants free funeral services with each interment.
In October 2015, Forest Lake Biñan became the first of Forest Lake's parks to offer chapel services. Currently, chapels are under construction in Iloilo, set for completion this year. These services include body retrieval, preparation, casketing, use of a hearse, and a viewing chapel—all aiming to provide total memorial care.
Forest Lake’s parks are designed with convenience and aesthetics in mind, featuring well-manicured lawns, rock gardens, and Mediterranean-inspired gates and guardhouses. Other amenities include well-maintained restrooms, high concrete perimeter and security walls, water sprinkler systems, drainage facilities, street and park lighting, and 24-hour security.
"Our many years of commitment to innovation and customer satisfaction made us the industry leader that we are today," adds Xerez-Burgos III. "We assure our present and future customers that we will continue this legacy and provide them the highest standard of care."
As Forest Lake celebrates its stature in the industry, it invites everyone to connect and stay updated through Facebook and Instagram at @forestlakememorialparks.
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