Robinsons Land to Build ‘Go Dorm,’ Offer Shared Office Spaces
Manila, Philippines—In a recent filing at the Philippine Stock Exchange (PSE), property developer Robinsons Land Corp. (RLC) said it will be building a “Go Dorm” in Metro Manila in the coming years, which will cater to employees.
At its annual shareholders’ meeting held last May 30, 2018, President and Chief Operating Officer Frederick Go said the company’s residential business is doing “extremely well,” projecting reservation sales to grow by more than 100% in Q2 2018.
The company is also planning to offer shared office spaces.
The net leasable area of RLC’s office segment stood at 405,000 square meters at the end of 2017. It targets to grow the area by 28% to 518,000 square meters this year with the opening of the office towers Exxa, Zeta, and Cyberspace Gamma in Ortigas Center.
Its office segment will further grow by 18% to 613,000 square meters in terms of the net leasable area by 2019, following the addition of Giga Tower, Cybergate Galleria Cebu, Cybergate Magnolia, and Delta Tower Two.
This year, the company will also start the construction of two industrial warehouse facilities in Calamba, Laguna. The first of the two industrial hubs will cover around 33,000 square meters of leasable space.
RLC’s popular malls, on the other hand, are set to end the year with 1.508 million square meters in gross leasable area, following the addition of Robinsons Place in Ormoc, Pavia, Tuguegarao, and Valencia.
By 2019, the malls’ gross leasable area will increase to 1.61 million square meters, following the launches of Robinsons Place in San Pedro, Robinsons Magnolia’s new building, and Robinsons Place in Antipolo.
The company has committed to spending P22.5 billion in capital expenditures this year to support its expansion plans. It already spent P6.817 billion in Q1 2018.