MANILA, Philippines - The two condominium brands of Gokongwei-led Robinsons Land Corp. (RLC) will launch two to three residential projects this year to keep up with brisk demand.
Good sales takeup allows brands Robinsons Communities and Robinsons Luxuria to be the bread and butter for the residential business of RLC, a company official said.
This year, the two brands will launch two to three projects composed of new phases for existing developments and new projects, said Mybelle V. Aragon-Gobio, senior vice-president of Robinsons Residences and Luxuria.
New offerings will “sustain the inventory and take advantage of the good market reception we are enjoying,” Aragon-Gobio said.
Last year, Robinsons Residences launched the third tower of the Magnolia residential project in Quezon City and another tower of Sapphire in Ortigas Center.
So far, three-fourths of the residential business of RLC is accounted for by Robinsons Luxuria and Robinsons Residences.
RLC operates under four brands: Robinsons Luxuria for the upscale market, Robinsons Residences for condominiums in central business districts, Robinsons Homes for house-and-lot developments in provinces and Robinsons Communities for the middle income segment.
Last month, Robinsons Residences jumpstarted its expansion program with the soft launch of the 500-unit Radiance Manila Bay.
The target market for the latest project of RLC is Filipino-Chinese families who want to stay near their businesses, Aragon-Gobio said.
“We are also looking outside of Metro Manila,” she said when asked about other property launches for this year.
RLC is taking advantage of the property boom by offering new projects.
Aragon-Gobio said the property sector is fuelled by “interest rates that are being kept at low levels, overseas Filipino remittances and vibrant outsourcing market.”
“There are also attractive offerings from various property developers. There is a housing backlog so we get more of end users,” Aragon-Gobio said.
In the fourth quarter of 2012, profits of RLC gained around three percent to P1.19 billion due to higher income from its office space, shopping malls and residential development units.