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Old March 24th, 2012, 01:24 PM   #1
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MANILA | St. Regis Residences | 52 fl x 2 | Duplicate

RLC earmarks P2.5 B for Fort condo project (St. Regis)

Robinsons Land Corporation is allotting around P2.5 billion to build a "very high-end" residential condominium building on a sprawling 9,118-square meter lot in Fort Bonifacio Global City.

RLC president Frederick Go said after the firm’s stockholders’ meeting yesterday that this is RLC’s fourth property to be acquired in Fort Bonifacio. Total cost for the four lots amount to P6 billion.

The new vacant property located along the Millionaire’s row at the corner of McKinley Drive and Fifth Avenue, is seen as the last remaining premier lot that has superior vantage point of Manila Golf and Manila Polo clubs.

Considered the best available spot and almost a hectare in size, this valuable corner lot property at the mouth of McKinley Drive is just beside the Regent Parkway.

Planned as the "lifestyle gateway" to the Global City, the property is composed of two mega-block lots—the first measuring 5,747 square meters and the second block measuring 3,371 sqm.

Go said RLC intends to fully maximize the value of the property by developing an upscale twin-tower residential project with the intent to bring a different level of lifestyle for its discerning target clientele.

RLC is seen to aggressively increase its presence in the area as it has already acquired and developing three strategically located prime residential properties in the Global City led by its two sold out projects, the 38-storey Fifth Avenue Place and the 43-storey McKinley Park Residences, as well as the recently launched, the Fort Residences.

"The newest acquisition reflects our continued confidence in the Global City, the real estate industry and the Philippine economy as a whole," said Go.

He said the firm is now drawing the overall master plan and aims to launch this new upscale development in the later part of this year with construction to start in two years and expected to be completed three years after that.

The acquisition also signals RLC’s continuous strategic land banking. The firm did not disclose the acquisition value of the new property. (JAL)

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ROBINSONS St. Regis Residences [2T|52F|res|pro] @ BGC, Taguig City, Philippines



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Old August 29th, 2012, 02:05 PM   #2
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Old September 11th, 2012, 02:24 PM   #3
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