Posted on 09:28 PM, July 20, 2010 [ BusinessWorld Online ]
GOKONGWEI-led property developer Robinsons Land Corp. is expanding the 14-year-old Robinsons Place Bacolod, citing the growing demand of its target market.
The redevelopment of Robinsons Place Bacolod, the first “full-service” mall in Bacolod in Negros Occidental, comes at the heels of face-lifts at Robinsons Galleria in Ortigas Center and Robinsons Place Manila.
“Robinsons Place Bacolod remains one of the most lucrative and successful malls in the region and this expansion is meant to ensure that it remains that way, by keeping pace with the growth and changes in the community,” Lourdes T. Alano, vice-president for leasing of Robinsons Land, said in a statement.
Under the project, Robinsons Land will increase the existing 48,500-square-meter (sq. m.) gross floor area by 6,000 sq. m. with the construction of a new one-level shopping and dining area.
Ms. Alano said the expansion will allow the mall to explore other business opportunities and give more shopping and dining options to its growing market base.
The redevelopment will be completed in the fourth quarter or early next year. The new section will be in commercial operation in the second quarter of 2011.
Robinsons Place Bacolod houses over 90 tenants, some of which have been operating inside the mall for more than a decade. The food court was renovated recently while Robinsons Appliances and Robinsons Handyman stores were expanded. Robinsons Land also opened recently a Toys R’ Us outlet in the mall.
Ms. Alano said the new area would have a “park-like setup” with lighted pathways surrounded by landscaped gardens. There will be five clusters of commercial spaces consisting of lifestyle stores and restaurants.
The expanded mall will also be a venue for concerts. There will be a “Blue Water Plaza” featuring water fountains.
To date, there are now five full-service Robinsons Malls in the Visayas: Robinsons Place Bacolod, Robinsons Place Dumaguete, Robinsons Place Iloilo, Robinsons Place Cebu, and Robinsons Place Tacloban.
The property developer has allotted P9 billion for capital spending this year, of which 40% will be for the construction of new malls.
Robinsons Land will start this year the construction of its first shopping mall in the Northern Luzon province of Pangasinan and the 30th Robinsons mall nationwide. It will also open a mall in Palawan next year, and Cebu and Quezon City in 2012.
Shares in Robinsons Land, whose profits dropped by 2.78% to P926.92 million in the first quarter, rose to P14.00 each yesterday from P13.25 on Monday. -- N. J. C. Morales
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