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

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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

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Stock News 2012: RLC opens its 30th mall in Calasiao, Pangasinan

Robinsons Land Corporation is opening on March 15, 2012 its first full service mall in Calasiao, Pangasinan – the 30th in its steadily growing chain of commercial centers.

According to RLC president Frederick Go, Robinsons Place Pangasinan is the newest and among the biggest shopping malls in the region, with a gross floor area of approximately 32,000 square meters and a gross leasable of approximately of 25,000 sqm built over a 6-hectare lot.

Go said RLC chose Calasiao for its first mall in Pangasinan because the first class municipality is strategically located between Dagupan City and San Carlos City, both thriving commercial areas of the province.

Connected via a major highway, Calasiao is just 15 minutes from Dagupan and 25 minutes from San Carlos City.

Aside from Robinsons Place Pangasinan, RLC malls in Central and Northern Luzon include two malls in Pampanga, and one each in Tarlac, Ilocos Norte, Bulacan and Cabanatuan.

Go said the two-level Robinsons Place Pangasinan is already over 90 percent leased with Robinsons Department Store, Robinsons Supermarket, Handyman, Robinsons Appliances and Robinsons Movieworld as anchor tenants.

Robinsons Movieworld operates 3 cinemas and a 3D cinema which have total seating capacity of over 1,000 seats. The 3D cinema is the first in the Region and uses the XPAND system.

According to Go, this is the first among all Robinsons Movieworld 3D cinemas to use an active shutter method wherein the 3D glasses are hi-tech devices which is synchronized with the projector to provide the brightest and crispiest image. “All our other 3D systems installed are passive, using Dolby or Master Image systems,” he added.

http://www.philstar.com/Article.aspx?articleId=785090

Stock News 2012: Robinsons Land bags Asiamoney award

Robinsons Land Corp. (RLC), one of the country’s largest property developers, was recently awarded Asiamoney magazine’s Best Managed Company Small-Cap category in the Philippines in 2011.

Asiamoney, a leading financial publication based in Hong Kong, said RLC earned the award [because of the sensible way management has run the company’s operations.”

“We are honored and happy that our efforts to steer the company amid these challenging times have been recognized by such a prestigious publication as Asiamoney,” said RLC president Frederick Go.

“The Philippines’ second-largest builder and operator of malls has continued to grow revenues and profits,” noted Asiamoney.

RLC posted a 10 percent growth in net profit for the fiscal year ending Sept. 30, 2011 to P3.97 billion from the P3.59 billion earned in fiscal year 2010 on stronger leasing revenues and residential sales.

It generated total gross revenues of P13.34 billion for fiscal year 2011, an increase of 18 percent from P11.30 billion for fiscal year 2010. EBITDA amounted to P7.14 billion this year, up by 11 percent from the previous year.

“RLC’s plans for the future also look steady,” said Asiamoney, citing the firm’s plan to build three new malls per year, develop two new office properties in the Ortigas district, roll-out its Summit Hotels and gohotels.ph brands and launch P8-billion worth of residential projects.

A leading real estate conglomerate in the Philippines, RLC has built landmark property developments that include 29 malls, 5 hotels, 8 office buildings, 57 residential condominiums, and 31 affordable housing subdivisions throughout the country.

“We will open three new shopping malls, expand two existing malls, continue to complete several office buildings, residential condominium buildings, and housing subdivisions in the region. We are also very excited with this year’s opening of four gohotels.ph in Puerto Princessa, Tacloban, Dumaguete and Bacolod,” added Go.

http://www.philstar.com/Article.aspx?articleId=783002&publicationSubCategoryId=63

Stock News 2012: Robinsons Ilocos Norte voted Best Community Mall

Robinsons Ilocos Norte was voted “Best Community Mall-Small Category” by the Philippine Retailers Association (PRA) during the 15th Outstanding Filipino Retailers and Shopping Centers of the Year Awards Night held at Crowne Plaza Galleria Manila Ballroom recently.

Robinsons Ilocos Norte is the only full ser- vice shopping mall in Region 1, catering to the needs of the residents of Ilocos Norte and Ilocos Sur as well as nearby provinces.

http://www.philstar.com/Article.aspx?articleId=770465&publicationSubCategoryId=

Stock News 2012: Robinsons Land retains high rating

Robinsons Galleria, Robinsons' Flagship Mall. (Photo credit: Wikipedia)
Robinsons Land Corp. retained its highest rating of PRS Aaa from local credit rating agency PhilRatings for its outstanding P10 billion bonds maturing in 2014.

Obligations rated PRS Aaa are of the highest quality with minimal credit risk. The obligor’s capacity to meet its financial commitment on the obligations is extremely strong.

RLC, the property arm of Gokongwei listed flagship firm JG Summit Holdings Inc., is engaged in the development and operation of shopping malls and hotels, and the development of mixed-use properties, office and residential buildings, as well as land and residential housing projects located in key cities and urban areas nationwide.

“Considering current market developments and conditions both globally and locally, RLC is now investing more in malls, office buildings and hotels, while taking a more conservative stance in relation to the development of residential real estate projects. This move signifies that RLC is expected to have a more stable and strong recurring rental and lease revenue base from investment properties while at the same time, pursuing opportunities through its residential development businesses,” PhilRatings said.

Sustained robust OFW remittances, the increase in consumer spending, as well as an expanding BPO business are expected to boost demand for residential space going forward and will continue to support growth in the commercial centers business, PhilRatings said.

http://www.philstar.com/Article.aspx?articleId=766072&publicationSubCategoryId=66

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Stock News 2010: New townhouse beefs up RLC project in Parañaque

Image by express000 via FlickrWOODSVILLE CITY complex, a 9-hectare mix-use development rising on West Service Road in Parañaque City is welcoming Robinsons Land Corp.’s first townhouse project: Woodsville Residences.
A 3-hectare townhouse development, Woodsville Residences imbibes the charm of communities found in Southern Tagalog region.
“The townhouse development is our opportunity to attract upstart families who wanted bigger living space as well as own land—at the entrance of every unit is a pocket garden, approximately 2.70 square meters in area while some will even have a garden area at the back,” describes RLC vice president for business development Mybelle Aragon-Gobio.
Aside from the chance of owning a house and lot, she adds that 1.5 hectares of Woodsville Residences’ 3-hectare total area will be devoted to open spaces and amenities that include a clubhouse with multipurpose rooms, a fitness center, an adult lap pool, a kiddie pool, an outdoor play area and a landscaped garden.
Woodsville Residences will be located adjacent to the Woodsville Viverde Mansions as well as Robinsons Woodsville Mall.
Self sustaining
“It will be a self-sustaining community that is also minutes away from major shopping malls and business districts,” Gobio says.
Woodsville Residences’ units with floor area ranging from 116 to 136 sq m will have a price starting from P5.2 to P6.6 million, a package that Gobio describes as far more affordable compared to newer townhouse developments by major industry players surrounding the area.
All the five available townhouse models are two-stories, with three bedrooms, a powder room, a utility area, two toilets and baths, a balcony and a pocket garden with some of the unit models offering either a single or two carports.
“It will become more affordable considering they will be available in flexible payment options such as 30 percent installment payable in 36 months, 70 percent balance payable 30 days after the reservation; 10 percent downpayment in 1 month, 20 percent installment in 35 months, 70 percent balance payable after completion of monthly installments payment; 20 percent downpayment in three months, 10 percent installment in 33 months, 70 percent balance payable after completion of monthly installments payment,” Gobio enumerates.
The first phase of Woodsville Residences, composed of 116 townhouses, is expected to be completed by September 2013.
Modern architectural design
The townhouses will take on a modern architectural design with units featuring balconies accessible through the master bedroom.
“Woodsville Residences is perfect for those young, second-generation families living in suburban areas like San Pablo, Calamba and other nearby areas in Laguna and Cavite who are wishing to upgrade their residence without leaving the South,” Gobio explains.
She says RLC is just continuing the success of Woodsville Mansions, the company’s mid-rise residential condominium development, in attracting homebuyers located in the south of Metro Manila and nearby provinces.
“As proven by the enthusiastic market acceptance of Woodsville Mansions, people put a premium on having some breathing room in their everyday lives in the face of the hurried pace of living in the city,” Gobio says.
Charles E. Buban
August 13, 2010
http://business.inquirer.net/money/features/view/20100813-286603/New-townhouse-beefs-up-RLC-project-in-Paraaque

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Stock News 2010: JG Summit ventures into BPO business

Image via WikipediaITech Global Business Solutions, Inc. (ITech Global), a PEZA-registred company, located at Robinsons Otis with an initial seat capacity of 777, aims to provide better customer service, technical support, telemarketing and tele-collections, market intelligence, financial services, IT services including SAP consulting & implementations services to clients.
The company provides both voice and non-voice solutions in the telecommunications, airline, real estate, hotel, retail and banking & finance industries in North America, Australia, Europe, New Zealand, Singapore and other Asian countries.
“ITech is among the preferred BPO providers in the Philippines because of its ability to provide on-brand customer experience to clients at significantly lower costs. We add value by improving the clients’ overall operational efficiency while reducing operating expenses and program start-up risks. We leverage on our synergies with the other JG Summit companies to shorten mobilization time and client ramp-up requirements.” Arlene Aguilar, ITech Global’s General Manager said.
Robinsons Land Corp. (RLC) is the country’s biggest landlord of call centers and BPOs. RLC has established major BPO sites in Metro Manila that have become BPO hubs.
Regionally, RLC’s property locations, with BPO-designed spaces, extend to key urban areas of Cebu, Davao, Northern Luzon, and the Calabarzon.
The Philippines is considered a major player in the global BPO market and remains as a top destination because of the natural bent of Filipinos to serve and talent to adapt to various BPO requirements of different countries.
Manila Bulletin
August 3, 2010
http://www.robinsonsoffices.com/news.html

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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

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Stock News 2010: Robinsons Land a driving force in Cebu

Image via WikipediaMANILA, Philippines The strong domestic retail market continues to paved the way for more property developments and expansion not only in major urban centers like Metro Manila but throughout the country. The expansion is being followed rapidly by BPO and call center companies as they moved to the Next Wave Cities.
Cebu has taken advantage of these developments and has landed itself as the premier destination for BPO and call center companies because of the presence of the correct mix of critical infrastructure, ample and appropriate human resources and lower cost. Cebu was selected as one of the highest-ranking BPO destinations in Asia due to high literacy and labor pool, fiscal incentives and competitiveness.
Robinsons Cybergate Cebu, Robinsons Land Corporation’s latest Cebu project that integrates BPO office spaces in its newest shopping and lifestyle mall development has reinforce the company stature as a driving force in the industry and the main developer of BPO sites that offers a total live-work-play environment.
For inquiries on Robinsons Cybergate Cebu office space leasing, call (02) 395-2177; (032) 255-5590 or email at office.buildings@-robinsonsland.com
http://www.robinsonsoffices.com/news.html

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Stock News 2010: RLC rolling out 11 new residential projects

Image via WikipediaMANILA, Philippines - Robinsons Land Corp. (RLC), the property development arm of Gokongwei holding firm JG Summit Holdings Inc., is rolling out 11 new residential projects to fill in the strong demand for low-to middle-income housing.
In a filing with securities regulators, RLC said it is awaiting the issuance of a license to sell a total of 5,008 housing units covering 11 new projects.
These projects are Monte Del Sol, Costa Verde, Forest Parkhomes North, Hanalei Heights , Brighton Parkplace North, Montclair Highlands , Sitio Andalucia, St. Bernice Estates, Nizanta Gardens , Vimana Verde Residences and Grand Tierra.
RLC said it plans to develop at least three new housing projects a year. To further expand its landbank and geographic base, the company is in various stages of negotiations for the acquisition of approximately 203 hectares in key regional cities throughout the country.
For its residential buildings division, RLC said it plans to build at least three new projects annually. As of end-September 2009, RLC had a portfolio of 29 residential condominium projects located in Metro Manila and Cebu, of which 16 had been completed and 13 projects under various stages of development.
“The company’s business plan for its residential buildings division is to develop new projects in response to actual and anticipated market demand.
The company believes that the potential for growth is in the affordable to middle-cost high-rise condominium developments and in the middle-cost to high-end horizontal residential segments of the market,” RLC said.
For its commercial center division, RLC had 10 new shopping malls in the planning and development stage for completion in the next two to three years to sustain its growth momentum.
For its fiscal year ending September 2009, RLC had opened five malls: Pulilan, Bulacan; Tagaytay; Davao; Tacloban and Gen. Santos City and a redeveloped mall in Tarlac City. It currently operates 26 shopping malls, comprising six malls in Metro Manila and 20 malls in other urban areas throughout the Philippines, with a gross floor area of approximately 1.43 million square meters.
The commercial centers division’s main revenue stream is derived from the lease of commercial spaces. Historically, revenues from lease rentals have been a steady source of operating cash flow for the company.
RLC expects that the revenues and operating cash flow generated by the commercial centers business shall continue to be the driver for the company’s growth in the future.
Zinnia B. Dela Peña
February 11, 2010
http://208.184.76.175/Article.aspx?articleid=548410

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Stock News 2010: PEZA-backed Robinsons Cybergate Cebu opens

Image via WikipediaMANILA, Philippines - Cebu City, ranked by Tholons International as the number one city among the world’s Top 50 Emerging Global Outsourcing Cities, is the host of Robinsons Land Corporation’s latest mixed-use project, Robinsons Cybergate Cebu.
While Cebu is also considered premier tourist destination, it is the second most popular destination of business process outsourcing (BPO) companies, next to Metro Manila, since it provides the infrastructure, amenities and the balanced lifestyle that draws BPO companies to set shop.
Opened last Dec. 9, 2009, Robinsons Cybergate Cebu is a seven-story mixed-use development with dining options, a medical and wellness component designed to supplement the services offered by the adjacent Chong Hua Hospital and other medical facilities and three floors for office. The new medical-commercial development sits on a 5,000-square meter lot and will have a gross leasable area of 12,500 square meters. It will have a total of 55 shops and restaurants as well as 35 wellness clinics.
The PEZA-accredited project located along J. Llorente St. corner Don Gil Garcia St. and facing Fuente Osmena Circle will be offering a complete work, relax, distress environment. The building is also equipped with full back-up power generators and utilizes the flexible VRF/VRV air-conditioning system perfect for companies who are conscious about work hours flexibility and cost savings.
Given its location at the heart of Metro Cebu, Robinsons Cybergate Cebu has unmatched accessibility and within the vicinity of Cebu’s major universities and colleges that provide an annual college graduating pool of 20,000 allowing ease in recruitment and potential employment.
http://www.robinsonsoffices.com/news.html

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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/

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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

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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

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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

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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

Stock News 2008: Robinsons Land to sell P1.5-B receivables

Image by mheisel via FlickrRobinsons Land Corp. (RLC), the property arm of Gokongwei flagship JG Summit Holdings Inc., has entered into an agreement with Home Funding Inc. (HFI) for the sale of up to P1.5 billion worth of receivables.
HFI is a special purpose company formed pursuant to the Securitization Act of 2004.
In a disclosure to the Philippine Stock Exchange, RLC said the receivables, will come from certain contracts to sell with the company’s buyers for securitization.
The agreement effectively provides covered buyers with an additional option for long-term financing on their condominium purchase.
The assignment of receivables will be implemented in several tranches subject to certain conditions, including the approval by the Securities and Exchange Commission of the securitization plan, RLC said.
Securitization is a financial transaction in which assets are pooled and securities representing interests in the pool are issued. Assets that can be securitized include auto loans, student loans, mortgages, credit card receivables, lease payments, accounts receivables and corporate or sovereign debt.
In a typical arrangement, the owner or originator of assets sells those assets to a special purpose vehicle (SPV). This may be a corporation or some form of partnership established specifically to facilitate the securitization. It may hold the assets or collateral on its balance sheet or place them in a separate trust. In either case, it sells bonds to investors, the proceeds of which will be used to pay the originator for the assets.
RLC earlier forged a strategic alliance with JP Morgan Chase Bank NA to tap the cash management services of the New York-listed global financial services company.
According to RLC, the increased efficiency to be brought about by JP Morgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for the property firm’s growing number of buyers based in the US, Europe and Asia.
RLC has earmarked P10 billion for its capital expenditures this year which include the construction of six new malls, new office buildings and residential subdivisions.
Its latest project within Bonifacio Global City is Trion Towers, a three-tower, high-rise condominium project which would rise on a one-hectare property at the corner of McKinley Parkway and 8th Avenue. Each tower would have 49 stories and house 700 residential units.
Construction of the project will start this year and is expected to be completed in three years.
RLC would launch another high-rise residential project geared towards the upper income market in a one-hectare lot near Forbes Park.
Zinnia B. Dela Peña
February 17, 2008

http://www.robinsonsoffices.com/jan-mar2008.html

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Stock News 2008: Robinsons Land posts 42% profit hike to P2.44B

Robinsons Land Corp. (RLC), the real estate development arm of Gokongwei flagship JG Summit Holdings Inc., reported a 42-percent jump in net profit for its fiscal year ending September 2007, buoyed by the strong growth in its leasing operations and higher sales from residential projects.

RLC posted a net income of P2.44 billion last year from P1.72 billion in 2006. Revenues likewise grew 29 percent from P6.97 billion to P8.99 billion on record sales and higher recurring income.

“All business units performed remarkably well. Our drive to build our brand and be responsive to market demands made our performance possible. The strategic initiatives and expansion programs we had pursued in recent years continue to bear fruit,” said RLC president and chief operating officer Frederick D. Go in a statement.

RLC’s commercial centers division accounted for 39 percent of total revenues, contributing P3.54 billion or an increase of 7.9 percent from the previous year’s P3.28 billion, mainly coming from anchor malls Robinsons Galleria and Robinsons Place Manila. The improved performance of RLC’s malls in Pioneer in Mandaluyong, Bacolod and Novaliches also boosted sales of the commercial centers division.

Go said the group’s focus on recovering expenses resulted in improved profitability while operating initiatives on improving tenant mix, brand building, and improving mall facilities and amenities continued to attract a growing mix of clientele.

Five of RLC’s malls now house call centers and business process outsourcing (BPO) firms, adding to the wide geographical reach of its shopping centers around the country that made it a choice landlord for BPO companies looking for new areas for expansion, he said.

RLC recently completed The Midtown Wing, an expansion of Robinsons Place Manila and Robinsons Place Otis, a strip mall with a BPO office component adjacent to a prime residential development.
Malls currently under construction are in Bulacan, Dumaguete, Nueva Ecija and Tagaytay.

The high rise residential buildings division, on the other hand, contributed 40 percent to total revenues, posting a 60-percent rise in revenues from P2.27 billion to P3.63 billion.

“Residential condominiums and other upper middle real estate products developed by the division continue to be well received by its target markets. Strong domestic sales and the rapid expansion of its international marketing operations, now in North America, Europe and the Middle East, have boosted pre-selling efforts,” Go said.

The high-rise buildings division has 11 condominium and two office building projects, namely Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City; Gateway Garden Heights and Gateway Garden Ridge in Robinsons Pioneer Complex; Two Adriatico Place, Three Adriatico Place and Otis 888 Residences in Manila; East of Galleria in Ortigas Center; Woodsville Viverde Mansions Building 1, 2 & 3 and office building Robinsons Cybergate Tower 3 and Robinsons Cybergate Plaza.

The office buildings division, meanwhile, registered a 77-percent jump in lease income as all of its projects have been quickly taken up by leading BPO players. It has five office buildings located in Metro Manila’s major central business districts — Galleria Corporate Center, Robinsons Equitable Tower, Robinsons Summit Center and Robinsons Cybergate Center Towers 1 and 2.

Rental revenues amounted to P570.6 million versus the previous year’s P322.9 million, largely due to the opening of Robinsons Cybergate Center Tower 2 as well as increased occupancy rate and generally healthy rental rates in all of its office properties.

The housing and land development division recorded revenues of P715.8 million, up 39 percent from the year ago’s P514.9 million.

Zinnia B. Dela Peña
January 31, 2008

http://www.robinsonsoffices.com/jan-mar2008.html

Stock News 2008: Robinsons Land taps JP Morgan for global cash management services

Robinsons Land Corp. (RLC), the property development arm of Gokongwei flagship JG Summit Holdings Inc., has forged a strategic alliance with JPMorgan Chase Bank NA to strengthen its fund management services for the international market.

In a disclosure to the Philippine Stock Exchange, RLC vice president for operations Kerwin Tan said the company is tapping the cash management services of the New York-listed global financial services company.

“The increased efficiency brought about by JPMorgan’s cash management services will expedite clearing periods for international checks, resulting in much-quicker turnaround time and convenience for Robinsons Land’s growing number of buyers based in the US, Europe and Asia,” he said. No other details were given by the company.

JPMorgan is a leading global financial services firm with assets of $1.6 trillion and operations in more than 50 countries. It is a leader in investment banking, financial services for consumers, small business and commercial banking, financial transaction processing, asset management and private equity.

A component of the Dow Jones Industrial Average, JPMorgan has its corporate headquarters in New York and its US retail financial services and commercial banking headquarters in Chicago. Under its JPMorgan and Chase brands, the firm serves millions of consumers in the United States and many of the world’s most prominent corporate, institutional and government clients.

Tan said by partnering with JP Morgan, RLC will be able to leverage on JP Morgan’s economies of scale, global reach and expertise to help grow their global past print and thus deliver greater efficiencies to their businesses and clients.

“The move is a forward looking approach to meet the demands of the international markets,” Tan said. At present, PLC’s recently launched projects have overseas Filipinos workers (OFWs) and balikbayans as primary target buyers.

According to the National Statistics Office, there are approximately eight million OFWS around the world, comprising nearly 10 percent of the Philippine population, and an estimated 4,500 Filipinos leave daily to work abroad.

Zinnia B. Dela Peña
January 29, 2008

http://www.robinsonsoffices.com/jan-mar2008.html