Posted on January 09, 2012 10:07:08 PM [ BusinessWorld Online ]
ROBINSONS LAND Corp. is looking to keep pace with its expansion plans by opening three new malls by June, an official said.
“We have ongoing developments in [Pangasinan], Palawan, and in [Quezon City]. We expect to complete them by the middle of the year,” Roseann C. Villegas, Robinsons Land corporate public relations manager, told BusinessWorld in a telephone interview last week.
Once completed, Robinsons Place Palawan in Puerto Princesa City will have a floor area of around 30,000 square-meters (sq m) and will be the only establishment in the city with cinemas, the Gokongwei-led developer earlier said.
Robinsons Place Calasiao, on the other hand, will offer 31,900 sq m in floor area to rival another major mall in Pangasinan--SM City Rosales.
Meanwhile, the four-storey mall within the five-hectare The Magnolia Town Square mixed-use development in New Manila, Quezon City will boast of 108 sq. m. of gross leasable area for tenants once it opens this year, Ms. Villegas said.
These developments will grow the company’s mall network to 32, from the current 29.
This comes as Robinsons Land recently completed renovation and expansion works on three other malls in the country: Robinsons Place Tacloban, Robinsons Place Bacolod, and Robinsons Metro East in Pasig City.
“We finished all of them in the last quarter,” Ms. Villegas said.
Robinsons Place Tacloban added 7,000 sq. m. of space to the existing 35,000-sq. m. area, while Robinsons Place Bacolod grew its current area to 54,500 sq. m. from 48,000 sq. m. The decade-old Robinsons Metro East was also refurbished last year.
Robinsons Land, the real estate arm of listed JG Summit Holdings, Inc. operates four brands: Robinsons Luxuria for the high-end market, Robinsons Residences for condominiums in central business districts, Robinsons Homes for house-and-lot developments in provinces and Robinsons Communities for the middle-income segment.
The firm is also into the development of shopping malls and hotels, as well as office space leasing.
To date, the company says it has built 57 residential condominiums, seven office buildings, 27 housing developments, and five hotels apart from its mall operations.
Robinsons Land shares stood unchanged at P11.88 apiece yesterday. -- F. J. G. de la Fuente