Gokongwei firm readies 2 property ventures
An article published in The
Philippine Daily Inquirer, April 24, 2006
By: Elizabeth L. Sanchez
Robinsons Land Corp., THE MALL and
residential developer of the Gokongwei family, is launching two major
residential projects within the next two years, targeting the Binondo
Chinese-Filipino communities and overseas Filipino workers, general manager
Danilo Ignacio said in a briefing with reporters on Friday.
RLC is starting construction next year of Otis 888, its second upscale
townhomes cluster project on the four-hectare Manila Gas property that the
company recently acquired from the government.
Otis 888, which is on Otis Road beside UN Avenue in Manila, will consist of
200 units spread across three hectares.
The units will feature three- and four-bedroom, three-story townhomes.
A three-bedroom unit is typically 138 square meters in size, and will be
priced at P6.6 million. Four bedroom units are available in two sizes-168
square meters for P8 million and 188 square meters for P9.5 million.
Construction of Otis 888 units may start in the second quarter of next year.
The turnover of units is targeted in late December next year until 2008.
RLC is also planning to put up a three- to four-story mall on the remaining
one hectare lot of the old Manila Gas lot. A call center will take up 10,000
square meters of mall space and may cater to 1,500 to 2,000 seats. The mall
is slated to be opened in 2007.
Another major residential project in the pipeline will rise on RLC's
9.3-hectare lot in Merville, Parañaque City. Set to be launched by the third
quarter this year, the project will offer two-bedroom houses at P2 million
each and target families of overseas Filipino workers.
RLC is also in talks with a private owner of a lot in Fort Bonifacio on a
possible residential condominium.