Monday, October 26, 2015

Robinsons to launch 5 malls in 2016


Retail bigshot and developer Robinsons Land Corp. (RLC), announced plans to open five new malls outside of the National Capital Region in 2016. On top of three existing malls slated for expansion, the new malls will broaden the developer's gross leasable area (GLA) by 11 percent. RLC currently owns about one million square meters of GLA, says Lourdes Alano, vice president of RLC’s corporate lease department.

"We're opening our third [mall] in Cebu this December," said Alano. "That's Robinson's Galleria Cebu. It's going to be the flagship mall in Cebu. And then we're expanding our llocos Norte mall. We're expanding our Tacloban mall. We've recently opened our expansion in Novaliches, so basically those are the developments all lined up for next year."

"We're acquiring properties not only in Metro Manila but in the Visayas and Mindanao area. As long as there is property we are acquiring, I believe we will be growing,” said Alano, noting that RLC will likely expand by three to five malls every year.

Aside from its upcoming mall in Cebu, new Robinsons malls are slated to rise in Tagum, Jaro, Iligan City, and General Trias in 2016.

RLC earned P4.7 billion in net profit in 2014, and plans to double that figure in 2019 by expanding its portfolio in the residential, retail, office, and hotel sectors.


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