September 6, 2019 | 12:06 am [ bworldonline.com ]
By Arra B. Francia, Senior Reporter
ROBINSONS Land Corp. (RLC) is developing two residential condominiums that will add about 2,000 residential units to its first township project called Bridgetowne in the cities of Quezon and Pasig.
RLC President and Chief Executive Officer Frederick D. Go said the company started construction for Cirrus, a 40-storey condominium under the Robinsons Communities brand. The project offers mostly studio units sized 25 square meters (sq.m.), priced at more than P3 million each.
“Cirrus has been over 80% sold, we did that within a month,” Mr. Go said in a press briefing inside the township yesterday.
The project looks to target employees of business process outsourcing (BPO) companies that will operate within the township, since Mr. Go said they want to give residents the live-work-play-dream dynamics in the estate.
“Cirrus is being built with them in mind…We want to be able to house everybody who works and lives here in Bridgetowne, even regular employees can afford to stay,” Mr. Go said.
RLC is also constructing a 40-storey high-end luxury project called Velaris in partnership with Hong Kong Land Group (HKLG), which acquired a 1.7-hectare piece of land in Bridgetowne last year.
Velaris will offer 500 units targeting more senior professionals working in the township or nearby areas.
Mr. Go said HKLG could build more projects in the area since the land they acquired is good for three buildings.
The company also unveiled on Thursday a 200-meter bridge across Marikina River that will connect Pasig and Quezon cities. It will have four lanes for vehicles, a one-meter lane for bikers, and a 1.5-meter lane for pedestrians.
“This will help alleviate traffic especially those coming from the east, I’m sure this bridge will be a very welcome infrastructure for everyone to use,” Mr. Go said.
The bridge will be opened to the public by the end of next year, since land development is still ongoing in parts of the township.
Next to the bridge, the company will also install a 60-meter statue called The Victor by Filipino-American artist Jeffrey Manuel. It is expected to be finished by 2020.
Mr. Go hopes the statue will draw more visitors to the estate.
Bridgetowne is the RLC’s first township project. Covering a total of 30.61 hectares, the project is located along E. Rodriguez Jr. Avenue and Ortigas Avenue in Barangay Ugong Norte. The company will develop the property within the next 10 to 15 years.
Aside from residential condominiums and office buildings, Bridgetowne will also house a shopping center, a five-star hotel, a one-hectare Main Central Park, school, hospital, and transport terminal.
RLC’s net income attributable to the parent jumped 20% to P4.01 billion in the first half of 2019, following a 13% increase in revenues to P14.786 billion.
Shares in RLC dropped 3.95% or P1 to close at P24.30 each at the stock exchange on Thursday.
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