Vol. XXII, No. 61 [ BusinessWorld Online ]
Monday, October 20, 2008 | MANILA, PHILIPPINES
GOKONGWEI-LED Robinsons Land Corp. has partnered with a Korean brokerage firm to sell the last of the three buildings of its Trion Towers in Fort Bonifacio, Taguig.
The property firm last week signed a memorandum of agreement with Daemyung Consulting and Realty Corp. where Daemyung will purchase the 49-story Tower 3 of the Trion Towers, Robinson’s fourth residential condominium project in Bonifacio Global City.
The company said Daemyung, a licensed brokerage company engaged in the real estate business both in the Philippines and in Korea, has offered Robinsons to exclusively sell Tower 3 of The Trion Towers to Koreans residing in the Philippines and in Korea.
As part of the agreement, Daemyung may also market to other foreign nationals residing in Korea.
"Bonifacio Global City is a promising commercial and residential district. The proximity of these establishments to residential condominiums attracts foreign investors," Daemyung President Doo Hee Lee said in a statement.
Mr. Lee said the future rise of the Korean Embassy and a Korean international school in the area is another reason that makes Bonifacio Global City attractive to Koreans.
Aside from Robinsons, property developer Megaworld Corp. has also partnered with two Korean companies to promote its 50-hectare McKinley Hill township, the Venice Luxury Residences, in Fort Bonifacio to Korean investors.
"The agreement is a way for Robinsons to offer investment opportunities to the untapped prospects outside the country. The extensive sales network of Daemyung in Korea can greatly help the company strengthen its relationship with investors eyeing properties in the Philippines," Raoul E. Littaua, senior vice president for sales and marketing of the residential buildings division, said in a statement.
Dubbed to be Robinsons Land’s largest condominium project, the threebuilding Trion Towers will stand on a 9,819-square meter property three-cornered lot off McKinley Parkway in Fort Bonifacio, Taguig..
It will have a retail component at the center of the three towers, while the ground floor of the towers will also be housing cafes, tea houses, health spots, specialty shops, magazine and bookstores. — Kristine Jane R. Liu
