050807: Robinsons Land buys another land parcel in Fort Bonifacio

By Zinnia B. Dela Peña
The Philippine Star 05/08/2007

Robinsons Land Corp. (RLC), the property unit of Gokongwei holding firm JG Summit Holdings Inc., has acquired another property in the fast-growing Bonifacio Global City in Taguig.

The lot, measuring 9,819 square meters, is strategically located in the prime section of the Global City South District, RLC said in a statement.

This latest acquisition follows its recent purchase of 9,118 sqm. property along the upscale McKinley Drive corner Fifth Avenue, bringing RLC’s major twin acquisitions close to two hectares of prime property, the single largest block of property available in Bonifacio Global City.

The property will be developed into a three-tower premium residential condominium supported by upscale retail shops plus a commercial component, RLC said.

The project, dubbed as The Trion Towers, will be launched in the third quarter of this year.

Flat and loft-type units will be available in 1-bedroom, 2-bedroom and 3-bedroom models — all designed to address the discerning tastes of mega Manila’s populace, Fil-Ams, balikbayans, professionals, investors and expatriates.

RLC is now finalizing the master-plan to fully maximize usage of the property. It plans to pattern the project after master developments in bustling cities like Shanghai and Dubai.

"One major design aspect is the introduction of buildings in a triangle formation, where each tower is linked by a bridgeway via a podium-like activity theme park — all buildings will be designed to fittingly embrace the ‘central park’, fully maximizing the residential wellness, green-livability and value of the property," RLC said.

RLC president Frederick Go said the acquisition manifests the company’s continued confidence on the country’s economy and the real estate industry as well.

Other properties within the Global City are the two sold out projects — the 38-story Fifth Avenue Place, the 43-story Mckinley Park Residences and the recently-launched The Fort Residences.

RLC has earmarked around P15 billion in the next two years for the development of new malls, office buildings and housing projects, and acquisition of new properties. About 40 percent of the programmed capital budget will be used to build new malls in Dumaguete, Bulacan, Paco in Manila, Tagaytay and Davao as well as to refurbish existing shopping centers in Ermita, Manila and Bacolod.

Around 30 percent will go to the establishment of new office buildings catering to business process outsourcing firms. RLC is currently constructing seven residential condominium buildings: Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City, Gateway Garden Ridge and One Gateway Place in Robinsons Pioneer Complex, One Adriatico Place, Two Adriatico Place and Otis 888 Residences in Manila; and two office buildings — Robinsons Cybergate 2 and Robinsons Cybergate 3.

For its mall expansion, RLC is redeveloping a portion of Robinsons Galleria mall, called West Wing, which is expected to be completed before the end of the year. It is also expanding Robinsons Place Manila by constructing The Midtown Wing and constructing Robinsons Place Otis 888, a strip mall fronting its residential development project in Paco, Manila.

 

http://www.philstar.com/philstar/NEWS200705080706.htm