Robinsons Land Corp. announced that it will launch PHP20 billion worth of new residential projects in 2020 as the company looks to take advantage of strong domestic demand as well as continued overseas interest. The developer also noted that the ongoing COVID-19 pandemic may cause the firm to alter these plans.
In the company’s 2019 annual report, Robinsons Land President Frederick D. Go explained that solid remittances from overseas Filipino workers, attractive lending rates and the availability of mortgage financing from banks will help propel the property market forward. However, the economic situation is being monitor and the developer is ready to react accordingly.
There are also plans in place for Robinsons Land to expand its retail holdings. The firm is preparing for the opening of a mall in La Union as well as the expansion of two existing properties: Robinsons Place Antipolo and Robinsons Place Dumaguete.
Additionally, Robinsons Land will open an upscale shopping complex in its new Bridgetowne township next year. Malls are also slated to open in Nueva Ecija, Bataan and Batangas in 2021.
Robinsons Land sees strong demand in China
Demand for Robinsons Land’s projects in China has been strong even with the country still recovering from the COVID-19 situation. Unit sales at the second phase of its Ban Bian Jie luxury condo project in Chengdu were better than expected. The average square meter price at the development rose as well.
“Despite the lingering effects of the global COVID-19 pandemic, Robinsons land has sold 76 percent of the 564 condominium units opened for sale and 73 percent of the 64 duplex villas opened for sale in just a few days of selling, after release of the sales permit,” the developer revealed in a disclosure to the Philippine Stock Exchange last month.
Robinsons Land announced the residential project in 2017 before launching two high-rise condominium towers the following year. Ban Bian Jie was the developer’s first residential project to be launched outside of the Philippines.
