Tuesday, October 23, 2007 Robinsons estate firm buys property in Cebu
ROBINSONS Land Corp. (RLC), one of the leading real estate firms in the country, announced that it has purchased a five-hectare property in Cebu for its first high-end leisure community.
During Monday’s disclosure to the Philippine Stock Exchange (PSE), RLC president Frederick Go said they envisioned the robust property in Mactan, Cebu to be the first master-planned condo-resort community. The prime five-hectare property with a 170-meter beachfront is located in Punta Engaño district in Mactan, Cebu.
“Robinsons Land Corporation has gained its formidable status and esteemed name with its strategically located residential condominiums, hotels, and commercial centers that are of world-class quality. Having accomplished this feat, we will now build a landmark five-star condo-resort project in Cebu,” said Go.
He explained that their decision to open their newest project in Cebu is premise on several economic indicators and this includes the tourism as well as the new title of Cebu to be the premier destinations of business hub in the South.
Cebu’s tourism potential and its being the investors’ preferred headquarters in Southern Philippines add to RLC’S high hopes for its new project and the region itself.
Citing the latest tourism figures of the Cebu province, Go said the total foreign arrivals and domestic travels in the first half of the year show substantial growth of 20 percent, as against last year’s records for the same period. The first six months of the year saw Koreans topping the island’s foreign guest list, followed by the Japanese and the Americans.
Cebu is also part of the Philippine Cyber Corridor master plan that runs through Baguio, Manila, and Davao.
The vision crafted by the National Government aimed to boost telecommunications and technology, and included empowering regions to provide information technology (IT)-related services. Multinational information technology firms and contact centers have likewise found their new homes in Cebu in the recent years, thereby attracting talents also from its neighboring provinces.
Moreover, Go said RLC’s mother company, JG Summit Holdings Inc., traces its roots to Cebu, as founder John Gokongwei, Jr. began his post-war trading business in his hometown.
JG Summit holds diverse interests in branded consumer foods, agro-industrial and commodity food products, textile, telecommunications, petrochemicals, air transportation and financial services.
At present, RLC is among the most profitable businesses of J.G. Summit Holdings Inc., with its 18 malls, 23 residential subdivisions, 22 residential condominiums, six office buildings and four hotels.
It has pioneered several developments in key cities, where it launched its other notable projects such as Galleria Regency, East of Galleria, The Trion Towers, Fifth Avenue Place, Adriatico Residences and One Gateway Place.
With the timely completion and delivery of its residential condominium projects, RLC remains property developer of choice of investors and end-users, both local and foreign alike. (MSN/Sunnex)
