^^ Related News...Robinsons to develop Davao lot
GOKONGWEI-OWNED Robinsons Land Corp. (RLC) has signed a deal to co-develop its fourth residential subdivision project in Davao, which targets the mid-income market.
In a disclosure, the company said it had entered into a joint venture with Davao-based Lapanday Prime Development Corp. to convert a 12.9-hectare property into a mid-cost residential project.
"Lapanday is donating their property and we’re the developer. The land is formerly a plantation owned by the Lorenzo family of Davao," said Robinsons Land President Frederick D. Go.
The company is also building retail shops and business process outsourcing buildings in Davao, he added.
Robinsons Land earlier projects in Davao include Bloomfields Davao, Costa Verde and Robinsons Highlands.
It is the property unit of listed conglomerate JG Summit Holdings, Inc. To date, Robinsons Land has 20 shopping malls, 25 residential condominiums, six office buildings, 30 housing and land developments and three hotels.
The company is spending P13.9 billion in the next two years, 40% of which will be for the construction of new malls and refurbishment of existing ones.
RLC to develop 13-ha. property of Lapanday unit in Davao City
By JAMES A. LOYOLA
Property developer Robinsons Land Corporation (RLC) entered into a joint venture agreement with Lapanday Prime Development Corporation to boost its landbank and product offerings in Davao City.
In a disclosure to the Philippine Stock Exchange (PSE) yesterday, RLC said this joint venture agreement allows RLC, through its Housing & Land Development Division (HLDD), to initially develop a 12.9-hectare property.
The Lapanday property is located in Barangay Tigatto and Waan, Davao City and will be the site for a mid-cost development.
This property is accessible to public areas and landmarks like Buhangin Public Market, Davao International Airport, Victoria Plaza Mall, Gaisano Mall, and Ateneo de Davao College.
RLC is currently building a residential subdivision and a new mall in Davao City which will be designed to house business process outsourcing or call center on the second level.
The firm said the mall is targetted for completion in the middle of 2008 and will have 13,000 square meters of gross floor area. The BPO/call center will occupy 5,000 square meters—making it the largest call center operation in Mindanao.
With strong demand for these spaces, RLC’s commercial centers division has included call center spaces in its future mall development in Davao City located along J. P. Laurel Avenue which can easily be accessed via private and public transport.
"We have designed a 2 level shopping mall to include our retail affiliates Robinsons Supermarket and Handyman Do It Best, together with quick service restaurant, health and beauty outlets and a call center at the second level," said Robinsons Malls general manager Cornelio Mapa.
He added that "this format will easily compliment the lifestyle of call center employees who look forward to some rest and recreation after work." Robinsons Davao will be RLC’s second shopping mall in Mindanao.
RLC aims to take advantage of the strong growth in consumer spending by undertaking to build 16 new malls nationwide over the next five years at a cost of about P12 billion.
In an interview, RLC president Frederick Go said they are also putting up four residential condominiums, six residential subdivisions, one hotel and two office buildings.
Go said all the property needed for the construction of the new malls have already been acquired and are part of RLC’s 67 hectare land bank for malls. The firm is opening five malls this year consisting of two in Manila, one in Tagaytay, one in Cabanatuan and one in Pulilan, Bulacan.
Other malls in the pipeline include those already under construction in Dumaguete, Davao and Cebu. He said some malls will cost over P1 billion but most will cost less since they will be in the provinces.