Stock News 2009: Philippines' RLC Opens Robinsons Cybergate Cebu Complex

Image via WikipediaCEBU CITY, Dec 11, 2009 (AsiaPulse via COMTEX) --
Robinsons Land Inc. (RLC, PSE:RLC) has opened its multi-million-peso Robinsons Cybergate Cebu, a mixed-use project that fuses office, wellness and retail into one development.
Robinsons Cybergate Cebu is the newest is the newest high-rise building around the Fuente Osmena rotunda in the heart of Cebu City and is just across the Robinson mall and Cebu Midtown Hotel.
RLC general manager Nilo Mapa Jr. said the project is a testament to the companys intention to expand its presence in Cebu.
Momot Irizari, RLC-Cebu group property manager for the commercial centers division, said 80 percent of leasable space of the seven-story building is already booked.
RLC is still negotiating with various business process outsourcing (BPO) companies for its 6,300-square-meter space allocated for a call center operation.
Hopefully, by the end of the year we will be able to sign a deal with a company for the BPO space, she said.
She said that right now, inquiries come from BPO players that have existing operations in Cebu and those that have yet to locate here.
But RLC is open to have more than one BPO locator to occupy the fifth to seventh floor of the building, depending on the need of the company.
Since the call center is open on a 24-hour shift, some of the retail and food tenants have also agreed to operate 24/7, like the pharmacy, convenience stores and the coffee shop.
The first two floors of the Robinsons Cybergate Cebu features food and retail outlets, including homegrown restaurants Mooon Cafe, Flame It and Golden Cowrie. The second level also features a food court, where food kiosks and carts are located.
The third floor of the building is dedicated to its wellness component and this includes salons and spa operators.
The fourth floor is where the medical clinics are found and Irizari said a number of medical practitioners are going to open clinics there, ranging from internal medicine doctors, obstetricians, dentists and orthopedics.
Although the structure is already 100 percent complete, some finishing touches and final fit-outs have yet to be done. RLC is looking at holding a grand opening or a building inauguration by the third quarter of 2010.
Irizari said RLC is already looking ahead to the start of initial ground work for a similar development at the North Reclamation Area in Cebu City.
The development of RLCs 45,000-square-meter property, located near the old White Gold department store, is set to open in 2011.
Though still a mixed-use project, it will have a different concept from the Robinsons Cybergate Cebu.
Irizari said the still unnamed project will have a supermarket, department store, al fresco dining, a serviced-apartment component and a convention center.
December 11, 2009
http://www.tradingmarkets.com/.site/news/Stock%20News/2717041/

Related articles by Zemanta

• Top US travel mag ranks Cebu one of Asia's best (globalnation.inquirer.net)
• Cebu city tour (slideshare.net)
• Arroyo inaugurates Cebu subway tunnel (newsinfo.inquirer.net)
• Cebu city tour + casino tour with dinner (slideshare.net)

Stock News 2009: Cityland plans to raise P900-M from debt papers

Image via WikipediaMANILA - Listed property firm Cityland Development Corp. is planning to issue P900 million worth of short-term commercial papers (STCP) to pay maturing obligations and to partially finance its real estate projects.
Cityland sought approval from the Securities and Exchange Commission for the STCPs, which would mature in one year and would carry a fixed interest rate of 5.23%. The company said these will be sold to local small investors and institutional buyers.
Of the amount, Cityland said it will allot P240 million for more than half of the total development cost of 2 real estate projects.
The company said it may tap its existing credit line with banks and other financial institutions to cover for the remaining amounts needed for the Makati Executive Tower III (a 37-storey commercial, office, and residential condominium in Makati City) and the Mandaluyong Executive Mansion III (a 7-storey commercial and residential condomium in Mandaluyong City).
As of end-June, Cityland has P1.91 billion in total outstanding loans.
Formerly called Statehouse Land Development Corp., Cityland has projects in medium to high-rise office, commercial, and residential condominiums in Makati, Mandaluyong, Manila, and Pasig. The company also develops farmlots and residential subdivisions in Bulacan and Cavite provinces.
Shares of Cityland fell to P1.44 apiece on Wednesday from P1.50 on Tuesday.
http://www.abs-cbnnews.com/business/10/14/09/cityland-plans-raise-p900-m-debt-papers

Related articles by Zemanta

• Rent Regulation: The Unique Bonus in Manila Real Estate | Free ... (freeezinearticles.com)
• Vehicular number-coding stays in Makati on Monday (newsinfo.inquirer.net)
• Aquino: No mercy for Pasig polluters (newsinfo.inquirer.net)

Stock News 2009: Gokongwei firm to open Tagaytay hotel

Image via WikipediaMANILA, Philippines--The Gokongweis’ Robinsons Land Corp. is set to open next month a 108-room hotel called “Summit Ridge” in Tagaytay City, the fourth member of its hotel portfolio.
The property developer has also firmed up plans to launch by next year a budget hotel chain called “Go Hotel,” which seeks to capitalize on the synergies with affiliate budget carrier Cebu Pacific Air, RLC president Frederick Go told reporters.
“The one in Tagaytay, I think it will be a successful hotel. It has the most commanding ridge view of Taal Volcano and climate is the best,” Go said.
The pilot site for the Go Hotel chain, on the other hand, is in Pioneer Street, Mandaluyong City. It will occupy two floors of the Robinsons Cybergate Plaza and offer 229 rooms to budget-conscious travelers.
“It’s a budget hotel chain which we think will do well especially because we can have an alliance with Cebu Pacific which is the largest budget airline. There is similarity between the markets they serve,” Go said.
In its fiscal year ending September 2008, the hotels division accounted for P1.14 billion or about 10 percent of total revenues. The group’s revenues last year went up 3 percent from a year ago.
The three other existing hotels in RLC’s portfolio are the 285-room Holiday Inn in Pasig City, 263-room Crowne Plaza in Quezon City and 210-room Cebu Midtown Hotel. These hotels reported a respective occupancy rate of 76 percent, 70 percent and 52 percent in 2008.
Doris Dumlao
April 19, 2009
http://www.robinsonsoffices.com/apr-jun2009.html

Related articles by Zemanta

• World's largest hotel group promises to pay checked baggage fees (walletpop.com)
• Taal shows increased activity but remains at lowest alert level (newsinfo.inquirer.net)

Stock News 2009: Robinsons earmarks P8 billion for expansion

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. (RLC), the real estate development arm of Gokongwei flagship firm JG Summit Holdings Inc., is setting aside around P8 billion this year to bankroll the construction of new shopping malls, office buildings, residential units and a chain of budget hotels.
RLC president and chief operating officer Frederick Go said the company intends to open five new malls this year which will make available an additional 71,000 square meters of gross leasable space.
At the start of its fiscal year ending September 2009, RLC had completed and opened Robinsons-Pulilan and Tagaytay as well as the first phase of the redevelopment of its Luisita mall.
Other malls targeted for opening this year are in Davao, Tacloban and Gen. Santos.
RLC’s shopping mall network will increase to 26 by the end of September this year from 21 the previous year.
“The company’s business plan for the commercial centers division over the next five years, subject to market conditions, is to sustain its growth momentum via development of new shopping malls and expansion of existing ones,” Go said.
Aside from this, RLC will continue to take advantage of the resilient demand for office space by allotting leasable area for BPOs (business process outsourcing) as needed in its malls. It started construction of Robinsons Cybergate Plaza, which will have 20,000 square meters of net leasable office area.
“While demand is still strong, we expect rental rates to be under pressure this year with the increase in office space supply. However, we are confident that our office buildings will maintain high occupancy because of their better locations, geographic spread, and the fact that they are anchored in our mixed-use developments,” Go said.
RLC is completing the 108-room Summit Ridge Hotel Complex in Tagaytay, which is slated to open this June.
To cater to a wider section of potential clients, RLC launched a new concept in the hospitality business with its budget Go Hotels, offering affordable and value-for money accomodation. These hotels will rise in RLC’s malls and 24-hour convenience stores.
The first site of the Go Hotel is in Robinsons Pioneer Cybergate complex, which is expected to be completed in the next fiscal year.
As for its housing projects, RLC has a pipeline of over 30 residential buildings planned for the mid term, five of which will be launched this year. Among these include the second residential tower of Sonata Private Residences, the second tower of additional buildings in Woodsville, and the first tower of the recently-acquired Magnolia property.
Go said the company aims to launch three new housing projects annually.
“Our business model remains the same-searching for joint venture partners in provincial areas that will allow us to expand into new localities with less upfront capital tied up to land acquisition. The lower price points of our products in this division should give us more traction in a property downturn,” Go said.
At the same time, RLC said it remains to be on the look out for opportunities to pick up good value assets that might become available in the midst of these challenging times.
Zinnia B. Dela Peña
March 10, 2009

Related articles by Zemanta

• Robinsons' Place eyes new look to draw in young professionals (business.inquirer.net)
• Robinsons acquires 29.6 hectares for General Santos residential project (business.inquirer.net)
• Cebu Air IPO to wait until market is ripe (business.inquirer.net)

Stock News 2009: Robinsons Cybergate Center Tower offers top grade building facilities

Image via WikipediaRobinsons Land Corp. (RLC), the country's top developer of premium office spaces, continues to offer the best value for locators from business process outsourcing industry through it's recently-completed Cybergate Center Tower 3.
At Robinsons Cybergate Center Tower 3, tenants will get to enjoy various tax and fiscal incentives since it is located within Robinsons Cyber Park, a PEZA-certified IT Park.
This building has been designed by seasoned professionals to offer locators with large floor plate of about 2,100 sq.m. of contiguous space, as well as widely spaced column ideal for BPO/call center type offices to give them more flexibility in organizing their work areas.
High-speed telecommunication and broadband data lines are made available through major telecommunications providers. The design also provides for interfloor communication trunking and telecom risers for additional trunking installation.
Cybergate Center Tower 3 has synchronized generator sets and a redundant generator to ensure 100 percent back-up for an uninterrupted power supply, as well as an automatic sprinkler system for protection against fire. The building has 11 high-speed elevator units.
It uses a Variable Refrigerant Volume (VRV) Air-conditioning System, a new generation technology, which allows users to control its operation to generate savings on electrical consumption, especially after standard office hours. This system is ideal for offices operating flexible hours.
Cybergate Center Tower 3 is located within the Robinsons Pioneer Cybergate Complex, which has its own transport terminals and is adjacent to the MRT station. This convenience is seen to make it easier to hire skilled workers since accessibility is one of the prime considerations of BPO recruits.
Aside from restaurants and convenience store integrated into the building, Cybergate Center Tower 3 shares the complex with Forum Robinsons, a specialty mall where employees get to relax, shop, dine and be entertained after a day’s work and several Robinsons-built residential towers.
Meanwhile, RLC recently “top-off” Cybergate Plaza, the fourth office building within the same complex in response to the continued uptake of traditional and BPO office spaces. This office building will have a total of six leasable office floors with ample parking and is expected to be ready to handover this year.
Zinnia B. Dela Peña
March 10, 2009

http://www.robinsonsoffices.com/jan-mar2009.html

Related articles by Zemanta

• A Pushback Against Cell Towers (nytimes.com)

Stock News 2009: Robinsons Land earnings jump 29% to P3.15 billion

Image via WikipediaRobinsons Land Corp. (RLC), the property arm of Gokongwei investment holding firm JG Summit Holdings Inc., said its net earnings rose 29 percent in its fiscal year ending September 2008 to P3.15 billion on the back of solid growth in operating lease revenues and sales.
In a financial report filed with securities regulators, RLC said consolidated revenues grew 26 percent to P11.18 billion from only P8.89 billion as sales from lease operations improved 35 percent.
RLC president and chief operating officer Frederick Go said the financial results were better than expected amid tough challenges in the real estate industry.
He said the company will continue to pursue projects in industry segments that have promising potentials to further boost its cash flow.
“We will continue to produce projects that cater to the demands of the consumer market. Our solid balance sheet and stable recurring income will allow us to pursue more projects in the coming year,” Go said.
RLC’s commercial centers division contributed P3.7 billion or 33 percent while its high-rise division accounted for 50.44 percent or P5.64 billion of the company’s gross revenues.
As of Sept. 30 last year, RLC operated 21 shopping malls, comprising six malls in Metro Manila and 15 malls in other urban areas throughout the Philippines, and had another 13 projects that are in the planning and development stage scheduled for completion in the next two to three years.
Among the new malls in the pipeline are Robinsons Dumaguete, Tacloban, Gen. Santos, Cebu and San Niccolas in Ilocos.
The strong rental sales, however, were offset by flat revenue growth in RLC’s hotel operations and a drop in interest income.
The 2008 net income includes an extraordinary adjustment to reduce provision for deferred income tax amounting to about P300 million. The adjustment was necessitated by the reduction of the legislated corporate income tax rate starting January 2009 from 35 percent to 30 percent.
The residential buildings division registered revenues of P4.76 billion, up 69 percent from the previous level mainly due to higher realized sales of condominium units in East of Galleria in Ortigas, Gateway Garden Ridge and Gateway Garden Heights in Pioneer, Mandaluyong and Otis 888 Residences in Manila.
The office buildings division, on the other hand, reported a 24-percent growth in revenues to P883 million due to stable recurring lease income from six of RLC’s office buildings, which have become the choice corporate addresses of reputable multinational companies as well as BPO (business process outsourcing) firms.

Zinnia B. Dela Peña 

January 24, 2009

http://www.robinsonsoffices.com/jan-mar2009.html