 ROBINSONS Land Corp. (RLC) said its earnings in 2019 had increased by 6%, driven by the steady performance of its rental businesses. In a statement issued Monday, the Gokongwei-led property developer said its net income reached P8.69 billion last year, higher than the P8.22 billion it posted in 2018. Consolidated revenues also increased by P1.02 billion to P30.58 billion in 2019. It said the company’s investment portfolio had contributed 69% of its consolidated revenues or P21.14 billion, which increased by 15% or P2.78 billion. The growth was sustained by the stable performance of its various rental businesses. The company added that 31% or P9.49 billion of the consolidated revenues was contributed by its development portfolio. The amount was down P1.76 billion down from 2018. The malls division provided bulk of the listed firm’s revenues at P13.25 billion, 11% higher year-on-year. The company attributed this to higher rental income and the opening of Robinsons Galleria South in San Pedro, Laguna and the expansion of Magnolia, which now has public eatery. RLC now has a total of 52 malls covering a total leasable space of 1.57 million square meters (sq.m.). For the office division, revenues went up by 24% to P5.32 billion, as its leasable space increased 13% to 592,000 sq.m. last year. The company also attributed its growth in this segment to its newly completed buildings such as Robinsons Cybergate Magnolia in Magnolia Complex, Luisita 2 in Tarlac, and Giga Tower in Bridgetowne. RLC’s hotels and resorts division grew 23% to P2.43 billion last year. “Notable new additions to its portfolio are: Summit Greenhills, and its first foray into the international luxury-resort category, and Dusit Thani Mactan Cebu which brings its total to 3,129 room keys,” it said. The residential segment grew its revenues by 5% to P9.13 billion. It said its net pre-sales had increased by 31% to P20.06 billion, driven by the sale of the company’s existing inventory and its project launches last year. As for its industrial and integrated developments division (IDD), it said the total warehouse revenues grew 2% to P138 million last year. The company’s IDD has a total leasable space of 77,000 sq.m. It added that its commercial lot sales amounted to P321 million last year. RLC said it spent P25.40 billion in capital expenditures last year, which went to the development of malls, offices, hotels, warehouse facilities, and the acquisition of land. On Monday, shares in RLC rose by 2.11% to P21.75 each. — Arjay L. Balinbin, BusinessWorld SOURCE: BUSINESSWORLD ONLINE
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 The Philippines’ luxury property market, long concentrated in traditional business enclaves, is expanding to new geographies, reshaping Metro Manila and its environs. Thanks to years of robust economic growth, new growth corridors have emerged within the city, creating new enclaves of prosperity. This year, the bustling C5 growth corridor – long encircled by some of the country’s most exclusive private estates – welcomes an opulent entrant that would, no doubt, hasten the area’s gentrification. The Velaris Residences by RHK Land Corporation, a joint venture of local real estate expert Robinsons Land Corporation (RLC) and international property development leader Hongkong Land (HKL), is a 45-storey premium condominium development that would definitely redefine the eastern skyline with its distinctive concrete-and-glass look, metallic bronze and rose gold façade. Its iconic look is a hallmark of Hongkong Land, which brings its unparalleled expertise and global experience to The Velaris Residences. A major listed property investment, management and development group, and a member of the Jardine Matheson Group, HKL owns and manages more than 850,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong, Singapore, Beijing and Jakarta, as well as high quality residential, commercial, and mixed-use projects under development in cities across Greater China and Southeast Asia. Among its notable projects in the Philippines are premium properties One Roxas Triangle and Two Roxas Triangle in Makati, and Mandani Bay, a premium waterfront development in Cebu. The Velaris Residences is the first project to be undertaken by RHK, showcasing the two proponents’ shared vision and experience, and is the forerunner of other developments that the joint venture will undertake in the Philippines. It will be launched on February 21, 2020, and is seen to transform the C5 corridor upon its completion in 2024. Located within Bridgetowne, RLC’s 31-hectare vibrant and master-planned mixed-use township that spans Pasig and Quezon City, The Velaris Residences lies within one of the most dynamic districts in the metropolis. It aims to bring the lifestyle of the affluent in Hong Kong to Manila by introducing its intentional design philosophy, which considers the experience of the resident at each point of the design process. More than that, The Velaris Residences offers unbridled growth opportunities by combining the strengths of two property powerhouses, while unlocking the property’s investment potential and optimizing its prime location in the country’s fastest rising growth corridor. The first of a three-tower development envisioned by RHK within Bridgetowne, it is seen to address investors’ demand as property prices in the area continue to rise, thanks to various infrastructure projects that will complement its growth. Two large infrastructure projects recently unveiled by the government – the Philippine Subway project and the MRT- 4 along Ortigas Avenue – will definitely lead to a surge in property values while ensuring ease of access for prospective residents. “The Velaris Residences offers the best of two industry stalwarts – the solid track record and systems of Robinsons Land Corporation, and the award-winning design of Hongkong Land – to build a landmark that will redefine the C5 growth corridor. The Velaris Residences represents a window of opportunity to invest in a luxury development in one of the most dynamic geographies in Metro Manila,” said Henry L. Yap, president of RHK Land Corporation. With access points through C5 Road, Ortigas Avenue, and Amang Rodriguez Avenue, The Velaris Residences is within easy reach of commercial establishments and offices, which gives residents numerous options for life and work integration. Moreover, a 200-meter long bridge within Bridgetowne that crosses the Marikina River, designed using state-of-the-art construction technology and indigenous ingenuity by Mañosa and Company, ensures that its residents enjoy quick and uninterrupted urban connectivity. Despite these, The Velaris Residences offers utmost privacy and exclusivity to its tenants, occupying an entire block that separates it from other developments. It also sits across Bridgetowne’s verdant central park.  “The Philippine property market is one of the most exciting markets in Asia, and we are delighted to be part of it and to bring the innovations and design excellence that Hongkong Land is known for. Through our partnership with Robinsons Land Corporation, we have no doubt that we can duplicate our global successes in the Philippines through The Velaris Residences,” said Robert Wong, Chief Executive of Hongkong Land. Amenities at The Velaris Residences complement its market’s lifestyles, and are several notches higher than those offered by similar developments in this class. Private lift lobbies—an amenity usually provided only to penthouse owners—is available for owners of two and three-bedroom units as well. For residents’ wellness needs, there is an onsen, a Japanese bathhouse suite of indoor and outdoor hot pools. For their entertainment pleasures, there is the exclusive SkyClub, consisting of interconnected spaces such as the SkyDeck, which offers sweeping views around the property. Each unit comes with top-of-the-line smart home technologies, such as smart digital locks, and mobile app-controlled air-conditioning and lighting. Three bedroom and penthouse units are also equipped with smart mirrors. Unit options include a 156 sqm three-bedroom and 105.5 sqm two-bedroom units, as well as one-bedroom units with sizes ranging from 46 to 81 square meters. Bi-level penthouse units are also available. With The Velaris Residences breaking ground at C-5, the Philippines has definitely gone several notches higher as a luxury property destination in Asia. - INQUIRER.net BrandRoom - @inquirerdotnet SOURCE: INQUIRER.net |
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May 2020
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