Robinsons Land Corp. to Develop Mixed-Used Project in Cebu City
Robinsons Land Corp., the real estate arm of JG Summit Holdings Inc., will begin construction of a five-hectare mixed-used development in Cebu City's uptown area before the end of the year. The project will feature a shopping mall, residential condominium, and a Go Hotel, with the shopping mall being the first component to be built. The project is expected to take five years to complete, and will introduce a new hotel concept called Go Hotels, which aims to provide affordable and value-for-money rooms.
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 project is expected to take five years to complete and will introduce a new hotel concept called Go Hotels.
- Go Hotels will feature a variable pricing scheme, rewarding lowest available rates to travelers with earlier bookings.
- A typical Go Hotel will have 150 to 200 rooms and will be designed to provide affordable and value-for-money accommodations.
- RLC has five real estate projects in Cebu, including Aspen Heights in Liloan, Amisa in Mactan, Cebu Midtown Hotel, Robinsons Place, and Robinsons Cybergate in Cebu City.
- RLC's combined real estate and hotel revenues increased by 14% to P6 billion in 2011, with commercial centers contributing 49% and the residential division accounting for 31%.
Statistics:
- 5-hectare mixed-used project to be developed in Cebu City's uptown area
- 5-year completion period for the project
- 150-200 rooms in a typical Go Hotel
- P6 billion combined real estate and hotel revenues for RLC in 2011
- 49% of gross revenues from commercial centers in 2011
- 31% of gross revenues from the residential division in 2011
Sources:
- PNA - "Robinsons Land Corp. to begin construction of 5-hectare project in Cebu before year ends"
- PNA - "RLC reports 14% growth in combined RE, hotel revenues to P6 billion in 2011"
- JG Summit Holdings Inc. website