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Robinsons Land charts three-year expansion plan

Posted on April 30, 2015 10:04:00 PM
By Claire-Ann M. C. Feliciano, Senior Reporter

GOKONGWEI-LED Robinsons Land Corp. (RLC) said it will build three new malls for its fiscal year ending September this year, and another four for each of the succeeding two years through 2017.


SALES PEOPLE at Gokongwei-led Robinsons Land Corp. brief potential buyers at a showroom in this undated photo. -- BW FILE PHOTO

RLC opened a total of six new malls in its 2014 fiscal year ending September last year.

“Moving forward, for this year we intend to open three new malls and expand one existing mall,” Frederick D. Go, RLC president and chief operating officer, said during the company’s annual stockholders’ meeting late on Wednesday.

Robinsons Place Las Piñas was the first mall the company opened for its 2015 fiscal year. RLC will later open this year its first mall in San Jose, Antique as well as its flagship mall in Cebu.

It will also expand its mall in Novaliches City.

“All these four projects will increase our GLA (gross leasable area) by 10% in 2015,” Mr. Go said.

RLC ended fiscal year 2014 with a GLA of 1.056 million square meters (sq.m.).

“For fiscal year 2016, we intend to open four new malls and [undertake] one to two mall expansions, thereby increasing our GLA by 11%,” Mr. Go said.

In 2017, RLC plans to open four new malls that will lead to an 8% increase in its GLA.

“We continue to aggressively scout for properties nationwide to replenish land for future malls,” Mr. Go said, adding that the company also continues to be bullish on its office segment.

MORE OFFICE SPACE

For its office leasing business, RLC grew its net leasable area (NLA) by 42% to 275,000 sq.m. in the last fiscal year following the completion of Cyberscape Alpha and Cyberscape Beta.
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