Robinsons Land Corp. to Develop 5-Hectare Mixed-Use Project in Cebu City

Strategic Insights -

The Philippine developer, Robinsons Land Corp. (RLC), is set to begin construction of a five-hectare mixed-used development in Cebu City's uptown area before the year ends. The project will feature a shopping mall, residential condominium, and a Go Hotel, with the shopping mall being the first component to be built. RLC president and chief operations officer, Frederick Go, stated that the company is targeting a five-year period for the completion of the project.

Key Takeaways:

  • Robinsons Land Corp. will develop a five-hectare mixed-used project in Cebu City's uptown area, featuring a shopping mall, residential condominium, and a Go Hotel.
  • The shopping mall will be the first component to be built, with the project expected to be completed within a five-year period.
  • The project is the latest addition to RLC's real estate and hotel portfolio in Cebu, which includes Aspen Heights in Liloan, Amisa in Mactan, Cebu Midtown Hotel, Robinsons Place, and Robinsons Cybergate in Cebu City.
  • RLC has introduced a new hotel concept, Go Hotels, which aims to provide affordable and value-for-money rooms, with a variable pricing scheme that rewards early bookings.
  • The company has plans to expand the Go Hotels chain to several locations in the Philippines, including Cebu, Tacloban, Dumaguete, and Palawan.

Statistics:

  • RLC's real estate and hotel revenues increased by 14% to P6 billion (US$139.3 million) as of March 2011, from P5.3 billion in the same period last year.
  • Commercial centers contributed 49% of RLC's gross revenues, while the residential division accounted for approximately 31%.
  • A typical Go Hotel will normally have 150-200 rooms.
  • The company has five real estate projects in Cebu, with a total value of P6 billion (US$139.3 million).

Sources:

  • Asia Pulse
  • Philippine News Agency (PNA)
  • PSE:RLC (Robinsons Land Corp. stock ticker)
  • PSE:JGS (JG Summit Holdings Inc. stock ticker)
  • Robinsons Land Corp. website