RLC to open 55 malls by 2020

Robinsons Land Corporation

MANILA, Philippines – Robinsons Land Corp. (RLC), the property development arm of the Gokongwei group, is eyeing to open 55 malls by 2020 as it continues to strengthen its business.

“It’s an estimate. We build three to four a year. Probably we will have 53 malls by 2019 and by 2020, 55,” said RLC president Frederick Go.

In terms of fund-raising activities, he said, the company is looking to raise funding requirements through the usual host of options such as regular bank loans, bonds or notes.

“We’ve been borrowing. (We raise) through internally generated funds as well as borrowings. All financing options are open,” he said.

The company is set to open four new malls this year. These are the recently opened Robinsons Galleria Cebu; Robinsons Place Tagum in Davao del Norte; in Jaro, Iloilo; General Trias in Cavite, which will all be opened in the second half of the year while the expansion of its Ilocos Mall is also slated for the period.

Four new malls and one expansion project are scheduled next year and for 2018, there will be four new malls as well as one expansion.

RLC’s office buildings division, meanwhile, will boost leasable space by 47 percent to 455,000 square meters 2018 from 310,000 sqm in 2015, Go said in his presentation during the company’s annual stockholders’ meeting.
Source: http://www.philstar.com/business/2016/03/14/1562607/rlc-open-55-malls-2020

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