RLC eyes expanding estate in Cebu

Robinsons Land Corporation (RLC) is looking at expanding its land bank in Cebu, to further take advantage of the province’s dynamic real estate sector in both commercial and residential segments.

RLC, the real estate development arm of conglomerate JG Summit Holdings Inc., is currently active in pursuing several development projects in Cebu, including the five-hectare Condo-Tel project called Amisa in Mactan, the Business Process Outsourcing (BPO) building called Cybergate Cebu in Fuente Osmeña, and its recent acquisition of government-owned property at the North Reclamation Area (NRA).

In an interview with JG Summit Holdings Inc., president and chief operating officer (COO) Lance Gokongwei, he said that the company is looking at expanding its land bank in Cebu to prepare for more projects in the next few years.

The company has recently acquired a 4-hectare property at the NRA, near the old White Gold Department Store, and is currently drawing up plans of developing the property for mixed-use development, Gokongwei said.

He said the four-hectare land will have a hotel, commercial complex, residential units, and office buildings.

The young Gokongwei, who is now in-charge of the conglomerate’s operation built by his Cebuano father John Gokongwei, said that Cebu offers huge opportunity for the group’s several business arms, specifically retail, real estate and airline operations.

Although he did not divulge any specific preference of the companies property interest in terms of location, Gokongwei said the company is on constant look out for opportunities to purchase or buy-out good real estate properties in Cebu, to add up to its existing land bank.

RLC is among the most profitable business of JG Summit Holdings Inc., with its 18 malls, 23 residential subdivisions, 22 residential condominiums, six office buildings and three hotels.

In Cebu, the Gokongwei Group is operating Robinson’s shopping mall in Fuente Osmeña, the Midtown Hotel, Robinson’s Supermarket at the Banilad Town Center, and the Blue Coast subdivision in Mactan, Aspen Heights in Consolacion among other affiliate businesses.

So far, RLC’s biggest investment venture in Cebu is the construction of the five-star resort and condotel coastline project called AmiSa located on Mactan Island.

Reportedly, the Gokongwei group expressed interest to buy a property at the South Road Property (SRP).

However, Cebu Investments and Promotion Center (CIPC), which is commissioned to market the 300-hectare property, earlier announced that only three giant real estate developers have reached into successful deal with the Cebu City government, excluding the Gokongwei Group.