Robinsons Land residential projects in full swing amid challenging times:
What recession?
Daily Tribune
February 28, 2009
"We have weathered economic recessions in the
past, we will survive this one, too.”
This optimistic declaration, uttered by the charming Roseann Villegas of
Robinsons Land Corp. (RLC), reflects the general sentiment of this pioneering
company which has remained one of the strongest contenders in the ever-growing
real estate development industry.
Raoul Littaua, RLC’s senior vice president, affirmed that their Residential
Buildings Division has been maintaining “the pace of its construction and
turnover of quality homes to buyers while continuing to launch new luxury and
middle level projects despite the challenging environment.”
“So far, none of the projects are on hold and neither are we downsizing any
project,” said Littaua, adding that sales also continue to do very well. “The
number of units sold is still increaing per year. We noticed that foreign
buyers (mainly Asians and Europeans) are not just buying vacation homes. We
are lately seeing them buying for investment purposes.”
Local buyers, he said, still make up the bulk of their sales.
RLC has already opened several of its residential projects. It recently
launched upscale and middle-level high-rise residential projects such as
Sonata, Trion Towers, Amisa and Gateway Regency. Two more high-end projects
will be launched under its Luxuria Portfolio brand. Under RLC are four brands
catering to different target markets: Luxuria, Robinsons Land (mid-segment,
which is the company’s “traditional strength”), Robinsons Communities and
Robinsons Homes.
In all segments, Littaua said, “We are doing well in these challenging times.”
After all, he added, “property is always a good investment especially for
prime locations.”
While other developers may have eased back on developing luxury projects, he
noted, RLC finds this segment less susceptible to the global slowdown since
it’s a small niche market composed of high net value investors.
“They still have to put their money somewhere and while real estate may not
always provide high returns immediately, these investments are considered
safer and more stable,” Littaua said.
Littaua credits RLC’s resiliency amid the global crisis to its mixed-use
development concept, innovative pricing strategy and non-dependence on a
single market or geographic segment.
While sales from the US market may decline, he noted that this is offset by
RLC’s sales from foreign investors from other Asian countries and Europe, who
appreciate the firm’s proposition of providing good value for money.
On top of providing its buyers with good value for their investments, RLC also
has a strong track record of completing its projects on time and often turns
over new homes to buyers ahead of schedule.
For its upscale projects in Bonifacio Global City, RLC said the Fifth Avenue
Place is already ready for occupancy, McKinley Park Residences was topped off
recently, The Fort Residences has just marked its first concrete pouring,
while The Trion Towers already reports strong pre-selling and is expected to
hold Tower 1 ground breaking this year.
In Manila, the first two towers of Adriatico Residences are ready for
occupancy, while Tower 3 will be turned over to unit owners this year. The
first two phases of Otis 888 Residences are also ready for occupancy and the
third phase will be turned over to unit owners this year.
RLC also broke ground for its Amisa resort community in Cebu and has already
begun pre-selling of units together with Sonata Private Residences in Ortigas.
Construction for another Ortigas project, the East of Galleria, is already in
full swing.
For RLC’s BPO and residential complex in Pioneer, Mandaluyong, the firm
reports that One Gateway Place and Gateway Garden Ridge are ready for
occupancy, while construction of Gateway Garden Heights is ongoing.
Pre-selling for Gateway Regency has begun with its showroom at Robinsons
Cybergate Center Tower 3 open for viewing daily.
The first two buildings for RLC’s Woodsville Viverde Mansions in Parañaque are
ready for occupancy, Buildings 3 and 4 will be turned over to unit owners this
year, while construction for Buildings 5 and 8 are ongoing.
Littaua said all these projects combined with the firm’s strong sales force
ensures that RLC will continue to do well during the global economic downturn
while ready to seize opportunities when the time for recovery comes. — With
reports from DSV