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News

ROBINSONS LAND, SECURITY LAND CORPORATION AND TAGANITO MINING SIGN JV TO DEVELOP MIXED USE COMPLEX IN AYALA AVENUE


Robinsons Land Corporation (RLC), one of the county’s largest diversified real estate conglomerates and the leading office landlord for call centers and BPO companies, has entered into a real estate joint-venture with Security Land Corporation (SLC) and Taganito Mining Corporation (TMC) to develop the most strategic available property in the country’s financial capital at the corners of Ayala Avenue, Rufino St. and Valero St. in Makati City.

In its disclosure filing, the sprawling 5,567 sqm Makati property is owned by SLC, a subsidiary of Security Bank Corporation, and will be developed by RLC and TMC into a premiere mixed office-residential project. The office building along Ayala Avenue, in particular will be RLC’s second one along the prestigious block. This will also solidify RLC’s leading position in the office sector.

“RLC is very excited about the prospects of developing with highly reputable partners the most strategic available premiere address along Ayala Avenue,” says RLC President and Chief Operating Officer Frederick Go.

Moving forward, the JV partners envision to build a modern mixed-use development - assuring of another big ticket development this side of metropolis.

Rafael “Babes” Simpao Jr., Director of Security Land Corporation said, ”Security Land is very pleased to have partnered with RLC. We look forward to providing the market with an exciting and innovative project.”

Also the country’s pioneer in the mixed use development, RLC has experienced tremendous compounded growth on a short period of time to become a reputable real estate company. Boosted by its growing land inventory in Mega Manila, it has successfully launched the Sonata Private Residences, an upscale condo development located in the bustling Ortigas Center and Trion Towers, a humongous tri-tower tri-axial designed residential development in the booming Fort Bonifacio Global City.

“Together with our JV partners, this agreement will add prominence to our office and residential inventory as we pursue a superior brand building in the Philippines,” says Go.

In FY 2007, RLC revenue grew 29% to P 8.99 Billion while its net income rose 41.8% to P 2.44 Billion.

RLC is budgeting P10billion for their capital expenditure program this year. It also recently announced plans to build 15 malls in the next 5 years to support its ever expanding mall and retail presence throughout the archipelago.

Boosted by the increased leisure and business travels to the Philippines, RLC also expects to sustain the improvement in hotels division in terms of occupancy and profitability. At present, the company operates 3 hotels ranging from economy to deluxe categories. Looking to expand its coverage, it will build a 126 room deluxe hotel in Tagaytay City, a favourite destination among the residents of Metro Manila, which it plans to open in 2009.

Residential condominiums and other upper middle real estate products developed by the company continue to be well received by its target markets. Strong domestic sales and the rapid expansion of its international marketing operations, now in North America, Europe, Australia, Asia and the Middle East, have boosted revenues.

It also plans to launch at least 3 housing projects per year to seize the growing housing backlog in the country. On going projects include, Brighton Parkplace, Monte Del Sol, Costa Verde, Wellington Courtyard, Forest Parkhomes North, Blue Coast Residences, Brighton Parkplace North, Hanalei Heights and Montclair Highlands.

RLCs unmatched geographical reach across the country is supported by 20 shopping malls, 27 residential condominiums, six office buildings, 27 housing and land developments and 3 hotels RLC is the property arm of the highly diversified conglomerate JG Summit Holdings and operates in five core businesses: shopping malls, office buildings, residential condominiums, hotels and landed housing.

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