Investing Stocks in Philippines: tacloban

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Thursday, August 23, 2012

Stock News 2012: Robinsons shifts focus to commercial projects

English: Newly opened Robinsons Place Mall, Tacloban City, Philippines (Opened 2009-06-11) (Photo credit: Wikipedia)
After slowing down on residential construction, Gokongwei-led property firm Robinsons Land Corp. is recalibrating its growth strategy and beefing up its landbank to build a strong pipeline of work in the commercial segment.

“We’re more aggressive now. We’re embarking on landbanking to ensure sufficient land capacity for development,” said Frederick D. Go, president of RLC.

Go said the company remains in talks with Japanese billionaire Kazuo Okada for the latter’s $2-billion casino project in the Philippine Amusement & Gaming Corp.’s Entertainment City along Roxas Blvd. RLC is considering running the retail and hotel operations for Okada’s project.

In April, RLC said it was inherently cautious about the short-term outlook for the residential real estate market and would rather focus on expanding its shopping mall, office building and hotel operations, which account for more than 65 percent of the group’s total revenues.

RLC is building seven new shopping malls and expanding three of its existing malls to capitalize on strong consumer spending and a growing business process outsourcing industry. Of the seven, three will be built this year while the other four will rise in 2013.

The expansion of the retail portfolio will increase the group’s total mall leasable area to a little over a million square meters (sqm) in two years.

RLC recently completed two mall expansion projects in Tacloban and Bacolod.

Together with the two expansion projects, RLC’s total gross leasable area (GLA) is seen to reach 911,000 sqm at end-September this year. In 2013, RLC will add another 100,000 sqm to bring the total GLA to 1.01 million sqm.

For the office segment, RLC is completing Cyberscape Alpha and Cyberspace Beta in Ortigas by mid-2013.

As for its Go Hotel chain, the company is looking to build four this year in line with plans to hit a 30-branch network over the next five years.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=840420

Saturday, April 21, 2012

Stock News 2012: Robinsons Land to expand retail portfolio

Robinsons Place Dumaguete in Dumaguete City, Negros Oriental, Philippines (Photo credit: Wikipedia)
Gokongwei-led Robinsons Land Corp.(RLC) is scaling up its retail portfolio in the next two years to boost its total mall leasable area to a little over one million square meters.

RLC president Frederick D. Go told reporters after the company’s annual stockholders meeting late Wednesday that they are building seven new shopping malls and expanding three of 29 existing malls in 2012-2013 to take advantage of the expected strong consumer spending and a booming business process outsourcing (BPO) industry.

Go said three new malls will be built this year while another four in 2013.

In March, RLC opened its first full-service mall in Calasiao, Pangasinan. The company is slated to open Robinsons Place Palawan in May and Robinsons Magnolia in July.

RLC recently completed two mall expansion projects in Tacloban and Bacolod.

Together with the two expansion projects, RLC’s total gross leasable area will reach 911,000 square meters at end-September this year. In 2013, RLC will add another 100,000 sqm to bring the total GLA to 1.01 million sqm.

In the office sector, RLC expects to complete Cyberscape Alpha and Cyberspace Beta in mid-2013 which will increase total net leasable area to 274,000 sqm from 194,000 sqm this year.

Go said the company is scouting for more land to purchase to expand their office building portfolio.

RLC has set aside P13 billion for capital expenditures this year, majority of which will go to new mall openings, office buildings and hotels.

Aside from this, it is planning to open two more Go Hotels this year, in Tacloban and Bacolod. It already opened in Palawan and Dumaguete in the first quarter of the year.

http://www.philstar.com/Article.aspx?publicationSubCategoryId=66&articleId=798682

Wednesday, May 12, 2010

Stock News 2010: RLC builds 3 more budget hotels

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. is building three more budget hotels, located outside Metro Manila, in addition to its pilot site at the Robinsons Pioneer Cybergate complex in Mandaluyong City.
Slated for opening on May 19, Go Hotel-Pioneer will offer 225 rooms with sizes ranging from 16 square meters to 22 square meters each. Rates vary from P388 to P3,000.
In the pipeline are branches in Tacloban, Palawan and Dumaguete which are expected to be developed in the next three to five years.
The Palawan site is expected to have 80 to 100 rooms Go Hotels is the fifth hotel property of RLC next to the 285-room Crowne Plaza Galleria Manila, 263-room Holiday Inn Galleria Manila, 210-room Cebu Midtown Hotel and the 108-room Summit Ridge Hotel Tagaytay.
RLC president and chief operating officer Frederick Go earlier said the budget hotel was a good fit for lowcost carrier Cebu Air and a perfect choice of budget-conscious travellers.
In the fiscal year ending September 2009, RLC’s hotel division registered revenues of P1.04 billion or about 10 percent of total revenues.
Zinnia Dela Peña
May 12, 2010
http://www.philstar.com/Article.aspx?articleId=574376&publicationSubCategoryId=66