Sunday, March 1, 2015

RLC to build new Ortigas township

Frederick Go, president of the firm, issued that RLC had won the bidding for the Mitsubishi property along Ortigas Avenue Extension. RLC is currently poised to close the bid in the next one to two months.

SM Group reportedly bid second highest, according to Go. 

"We're the largest developer in Ortigas CBD (central business district), in the eastern corridor," said Go. "We're a very active developer in this part of town. The Mitsubishi property, that is a new land bank for us."

Set to be developed next year, the township will feature integrated residential, retail, and office components.

In addition, RLC is poised to launch four to five residential projects, one office building, and open three new malls in 2015. 

The residential projects cost P6 to P12 billion – "A combination of horizontal Robinsons Homes and other three high rise brands – Luxuria Residences and Communities," according to Go.

Robinsons Galleria Cebu, Robinsons Place Antique, and Robinsons Nova Place in Novaliches Quezon City are set to open within the year.

Meanwhile, Robinsons Cyberspace Gamma, also set in Ortigas, marks the developer's fifth foray into office spaces.

RLC had also launched three new hotels in the past three months: GO Hotels Butuan, GO Hotels Cyberalpha and Summit Hotel Magnolia, in New Manila, Quezon City.

"Obviously, there is a lot of predictability in what we do for malls, offices, and hotels," said Go. Their residential sector, however, hinged upon market demand, stated Go.

"[As] for residential, I cannot predict because a lot of it is driven by market demand. It depends. The market is still pretty strong, the market's really good. There are a lot of buyers out there but of course, there is a lot of supply. That’s why it’s really hard to predict. There is no oversupply – it’s just that there is a lot of supply," said Go.


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