March 03, 2013

Robinsons Land to Launch 4 Malls This Year

Robinsons Land Corp. (RLC), the property arm to tycoon John Gokongwei Jr., will be launching four additional malls this year. The malls will be built in Malolos, Bulacan; Santiago, Isabela; Roxas City and Butuan.

Out of the P13 billion capital allotment this year, two-thirds will be spent for the development of malls, office buildings, and hotels while the remaining 33% will be taken up by residential condominium projects and housing units.

Aside from its core property businesses, RLC is entering the gaming business. Late last year, the property development arm of Gokongwei flagship firm JG Summit Holdings Inc. sealed a deal with Japanese billionaire Kazuo Okada to jointly develop a $2-billion hotel and casino complex in the 100-hectare Entertainment City along Roxas Boulevard.