By James A. Loyola
Robinsons Land Corporation (RLC) expects its earnings to surge this year as it begins to recognize sales in its residential project in China while continuing to expand its residential and recurring income portfolio in the Philippines.
RLC President and CEO Frederick Go
In an interview after the firm’s annual stockholders’ meeting, RLC President Frederick Go said “we will start recognizing (revenues) in China this year so our income will definitely surge once we recognize the China.”
He added that, “we’ve already started the construction of phase 2 (in China) and we will start applying for the license to sell second half of this year. It will have 698 units.”
Go said RLC will launch a total of 4,000 residential units worth P12 billion this year consisting of four RLC projects and two high-end joint venture projects.
It will also continue to expand its office leasing properties and mall chain.
RLC is aiming to open four new malls and expand three existing malls in 2019 to 2020 while planning to boost its office leasing properties to 669,000 square meters by 2020 from 523,000 sqm in 2018 with the completion of six office properties.
Go said RLC is also looking at securing projects in Clark since parent company JG Summit Holdings is a member of a consortium that will develop the airport there.
“Maybe transportation-related like an airport hotel. I anticipate Robinsons Land will participate in that development. There’s enough room for everyone to build something,” he noted.
Go added that, “we believe in the Clark development. We have acquired significant land bank in the Clark area. We think that it will be an important integrated township for the company.”
He revealed that RLC has bought close to 200 hectares of land “very near Clark” for an integrated development that will include residential, commercial, hotel, and industrial components.
“We’re planning it already. We have finished the masterplan already. The project will be called Montclair,” said Go.