The Gokongwei Group is increasing its investments for its real estate and food and beverage units while investments for aviation drops as it expects fewer aircraft and engine deliveries.
JG Summit Holdings Inc. said the sharply lower capital expenditures of Cebu Air Inc., down 49 percent to P33 billion in 2025 from P64.6 billion in 2024, resulted in the drop in the group’s capex budget by 29.6 percent to P69.2 billion from P98.3 billion last year.
Cebu Air expects deliveries of seven aircraft and six engines this year as against 17 aircraft and 10 engine deliveries in 2024 aimed at growing capacity and continue mitigation efforts of the Pratt & Whitney engine issues.
The airline’s capex includes aircraft acquired under long-term leases and Pre-Delivery-Payment refunds totaling P15.1 billion in 2024 and P19.4 billion in 2025.
Meanwhile, Universal Robina Corporation is investing P11.1 billion this year, 44 percent higher than its P7.7 billion capex last year.
In 2024, the firm continued investment in its Malvar mega plant with first commercial run expected this year. For 2025, JG Summit said URC will still be spending for carryover projects for the mega plant.
Robinsons Land Corporation is increasing capex by 4.5 percent to P23 billion this year from P22 billion in 2024 to expand its various divisions. This year, its malls will grow by 28,000 square meters, offices by 92,000 square meters, logistics by 34,000 square meters, and its hotels by 223 rooms.
In 2024, RLC used its capex for the development of Opus Mall in Libis, offices (GBF Tower 1 and Cybergate Iloilo 3), hotels (NUSTAR hotel), and various warehouses.
RLC’s spending budget also includes residential land acquisition and development capex which is 28 percent lower at P4.8 billion this year from P6.7 billion in 2024.
Following its shutdown, JG Summit Olefins Corporation will be spending much less for its maintenance capex compared to the P3.8 billion spent in 2024 for maintenance capex and tail-end payments for its plant expansion project.