Posted on 09:49 PM, August 03, 2010 [ BusinessWorld Online ]
ROBINSONS HOMES, the provincial house and lot developer of Gokongwei-led property firm Robinsons Land Corp., has acquired a 29.6-hectare property in General Santos.
The move will allow the property firm to expand its commercial, retail, and residential operations in the south, the company said in a statement yesterday. “We will position this project as the premiere housing development in General Santos City,” Robinsons Homes General Manager Joan R. Cosico said in the statement.
The property, which is a 25-minute drive from General Santos International Airport, was acquired from the Integrated Credit & Corporate Services and the Star Two, Inc.
“We believe that General Santos is a growth market as evidenced by our investment in [the city’s] Robinsons Mall,” Ms. Cosico said.
The development plan for the property has yet to be completed.
Robinsons Homes has four projects in Mindanao: Robinsons Highlands in Davao City, and Robinsons Hillsborough Pointe, Richmond Hills, and Fresno Parkview, all in Cagayan de Oro.
Robinsons Land operates under four brands -- Robinsons Luxuria for the high-end market, Robinsons Residences for condominiums in central business districts, Robinsons Communities for the middle-income segment, and Robinsons Homes.
Robinsons Land is set to start the construction of its first shopping mall in the Northern Luzon province of Pangasinan and the 30th Robinsons mall nationwide. It will open a mall in Palawan next year, and Cebu and Quezon City in 2012.
Shares in Robinsons Land -- whose profits went down by 2.78% to P926.92 million in the first quarter -- rose to P13.74 apiece yesterday from P13.60 on Monday. -- N. J. C. Morales