ROBINSONS LAND Corp. (RLC) expanded its shopping mall footprint with
the opening of Robinsons Place Tuguegarao on Thursday, marking the 50th mall under its portfolio.
The Gokongwei-led property developer said in a statement yesterday
that Robinsons Place Tuguegarao will add 38,000 square meters (sq.m.) of
leasable spaces to its network. The mall spans 60,000 sq.m. in terms of
gross floor area.
“We are happy to mark our 50th mall milestone in
Tuguegarao. This city is a perfect place to open a mall right now
because of its vibrant economy as the central hub in the Province of
Cagayan,” RLC President and Chief Operating Officer Frederick D. Go was
quoted as saying in a statement.
The three-storey mall is located in Barangay Tanza, which is
surrounded by government offices, educational institutions, transport
hubs, and residential areas.
RLC is banking on Tuguegarao’s rising economy, which it noted has
gradually shifted to trading, commerce, and services from agriculture.
The company also noted that Tuguegarao has become the ideal location for
banks and regional branches of big companies.
“With the presence of the new mall, RLC becomes the catalyst in
promoting and supporting progress, spurning more businesses to open and
flourish in the Region,” Robinsons Malls General Manager Arlene G.
Magtibay said in a statement.
Robinsons Place Tuguegarao is RLC’s second mall in the Cagayan
region, following Robinsons Place Santiago in Isabela. It has also
brought RLC’s presence in Northern Luzon to four malls.
The mall houses anchor tenants such as Robinsons Supermarket,
Robinsons Department Store, Handyman, Daiso Japan, Robinsons Appliances,
and Robinsons Movieworld, among others. It will also have six
cinemas-including a 3D theater, and two activity areas measuring a total
of 1,300 sq.m. to be used for hosting events, shows, trade fairs, and
conventions.
In addition, the mall will have amusement and entertainment centers
for children, such as Kidzoona, Quantum, Tom’s World Amusement, and
three other local brands.
RLC will also be developing Go Hotels beside Robinsons Place
Tuguegarao. The company’s chain of budget hotels will have 136 rooms for
the new site.
With the opening of the 50th mall, Mr. Go said they are looking forward to the next phase of expansion for the company’s commercial unit.
“We look forward to our next 50 malls. We will continue to build in
new territories, in underserved markets, and in places where they can be
catalysts of economic growth,” he said.
RLC’s net income attributable to the parent grew 12% to P1.54 billion
in the first quarter of 2018, following an 18% improvement in revenues
to P5.88 billion during the period.
Shares in RLC dropped eight centavos or 0.40% to close at P19.70 each at the stock exchange on Thursday. — Arra B. Francia
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