RLC eyes large tracts of government land
An article published in The
Philippine Daily Inquirer, December 27, 2006
By: Elizabeth L. Sanchez
property firm Robinsons Land Corp. (RLC) is interested in acquiring large
tracts of land being disposed of by the government or by other private
companies in line with its efforts to develop more mixed use communities,
its president, Frederick Go, said.
For one, Go said RLC was interested in the more than 10-hectare property of
the Bases Conversion Development Authority in the northern part of Forth
Bonifacio in Taguig.
He said the government had yet to announce the bidding schedule for this
property and RLC believed it might take six months before the property would
be offered for sale. "We are very interested in any large tracks of land
that we can buy or develop under possible joint ventures with the land
owners," he said.
To finance its acquisitions, Go said RLC would use a combination of debt and
equity.
RLC is the country's largest business process outsourcing (BPO) lessor with
116,000 square meters of leasable BPO space. It plans to construct another
80,000 square meters of leasable space in the next 18 months. It is also the
second largest mall developer and one of the leading residential builders in
the country.
RLC earlier said it was setting aside as much as P8 billion for projects
that would be implemented next year to take advantage of the booming office
space and residential market.
These projects include a third tower for Cybergate Center in Mandaluyong,
which will offer spaces to BPO companies. Cybergate Tower 3, which will have
about 43,000 square meters of leasable space, will have 37 floors. It is
targeted for completion by the first quarter of 2008.
RLC is also embarking on the construction of another office building in
Quezon City. RLC's budget will also be earmarked for ongoing projects such
as the 38-story Fifth Avenue Place residential Condominium in Fort Bonifacio,
the 30-story Gateway Garden Ridge in Mandaluyong, One, Two and Three
Adriatico Place in Ermita, Manila, McKinley Park Condominium in Fort
Bonifacio, its townhouse projectOtis 888 Residences in Paco, Manila, and
its Woodsville Viverde Mansions in Parañaque.