ROBINSONS Land Corp. (RLC) is set to open a new mall in Bukidnon this Wednesday, Dec. 12, as part of the company’s goal to establish its presence in emerging economic hubs in the country.
The Gokongwei-led property developer said in a statement that it will be opening Robinsons Place Valencia, the first full-service mall in Valencia City, Bukidnon. This is RLC’s seventh mall in Mindanao and its 51st nationwide.
Robinsons Place Valencia is located on an eight-hectare lot along Sayre Highway. Anchor tenants include Robinsons Department Store, Robinsons Supermarket, Robinsons Appliances, Handyman, Daiso Japan, Robinsons Bank, and South Start Drug.
It will also feature various fastfood and casual dining restaurants, coffee shops, a food gallery, and novelty food shops.
“With the opening of Robinsons Place Valencia, people from Bukidnon need not travel to Cagayan de Oro or Davao for a complete shopping, entertainment and dining experience,” RLC President and Chief Executive Officer Frederick D. Go said in a statement.
Mr. Go also expects the mall to attract residents from nearby towns and cities near the province.
RLC chose to expand to Valencia City on account of its rapid development and economic growth. The company described the city as Bukidnon’s center of trade and commerce given its strategic location of being at the center of Mindanao.
The opening of Robinsons Place Valencia also follows the company’s strategy of putting up malls in provincial areas, including Cagayan de Oro, Davao, General Santos, Butuan, Tagum, and Iligan.
“We will continue to open more malls in areas that have strong underserved market demand and where we can be a catalyst for economic growth,” Mr. Go said.
The company earlier said it looks to end the year with 1.508 million square meters (sq.m.) in gross leasable area (GLA) across its shopping malls, following the opening of Robinsons Place in Ormoc, Pavia, Tuguegarao, and Valencia.
In 2019, the company will be opening Robinsons Place in San Pedro and Antipolo, while also expanding Robinsons Magnolia in Quezon City. This will bring RLC’s GLA to 1.61 million sq.m by the end of next year.
RLC’s net income attributable to the parent surged 96% to P3.22 billion in the third quarter of 2018, after revenues climbed 56% to P8.75 billion.
On a nine-month basis, RLC’s attributable profit 43% to P6.55 billion. Revenues meanwhile jumped 31% increase to P21.8 billion during the period. — Arra B. Francia
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