Property


Robinsons Land plans mall in Isabela




Posted on October 04, 2012


LISTED real estate developer Robinsons Land Corp. aims to open in the second half next year Robinsons Place Isabela, its first mall in that province, in a bid to strengthen its mall network north of Metro Manila.

Roseann C. Villegas, Robinsons Land corporate public relations manager, said in a text message on Friday last week that Robinsons Place Isabela is scheduled to open some time in September 2013.

The new Isabela mall will be joining Robinsons Land’s other malls north of Metro Manila: Robinsons Starmalls, Robinsons Place Angeles, Robinsons Place Pangasinan, Robinsons Luisita, and Robinsons Ilocos Norte, the company’s Web site showed.

Once completed, the three-storey Robinsons Place Isabela on a 4.2-hectare lot along Maharlika Highway in Santiago City will have a gross floor area of 38,725 square meters (sq. m.) and a gross leasable area of roughly 26,000 sq. m., the company said in a statement last Friday.

Robinsons Place Isabela will house a two-storey Robinsons Department Store and Robinsons Supermarket as anchor tenants; as well as Robinsons Appliance Center; Handyman; an amusement center; and as an all-digital, four-theater cinema capable of seating over 1,000 persons, according to Arlene G. Magtibay, Robinsons Land commercial centers division general manager.

The mall will also feature a variety of fashion, service and specialty shops alongside fast food restaurants, casual dining outlets, and a food court.

In order to make the development accessible, Robinsons Place Isabela will also provide for a jeepney and tricycle terminal, bus lay-by, and parking spaces for 640 cars and 900 motorcycles.

Robinsons Land, incorporated in 1980, is the property arm of listed conglomerate JG Summit Holdings, Inc.

It has built 29 malls, 33 residential projects, eight office buildings, and five hotels as of end-2011, the company’s 2011 annual report showed.

For the 2012 fiscal year, the company has allotted P13 billion for capital expenditures -- nearly as much as the P13.9 billion earmarked for the previous year -- which will be sourced from cash operations and debt, Frederick D. Go, Robinsons Land president, had said last April.

More than 60% of the planned funding this year will go to malls, office buildings, and hotels, while the rest will be earmarked for residential condominiums and housing units.

Last July, Robinsons Land bared its foray into the local gaming sector as it announced that it was in talks with Okada-owned Tiger Resorts Leisure and Entertainment, Inc., for the possible management of the retail and gaming components of the latter’s Manila Bay Resorts integrated casino complex in Parañaque City.

Further details of this prospective partnership have yet to be disclosed.

Robinsons Land grew its net income by 9.84% to P3.35 billion in the first semester from P3.05 billion in the same period last year on the back of improved revenues across all its businesses, led by the commercial and residential segments.

Total revenues expanded by 9.89% to P10.56 billion from P9.61 billion in the same comparative priods, while total costs and expense went up 10.05% to P6.35 billion from P5.77 billion.

Shares of the company yesterday added 24 centavos or 1.25% to P19.50 apiece from their P19.26 close last Tuesday. -- Franz Jonathan G. de la Fuente