Robinsons Land to put up 3rd condo building in Global City

Robinsons Land Corp., the property arm of the Gokongwei’s JG Summit Holdings Inc., will build its third residential condominium building in the burgeoning Bonifacio Global City due to the strong demand for its projects from overseas Filipino workers and other investors as well.

The project, named Fort Residences, involves the construction of a 28-storey modern residential tower that will have flat and loft-type units.

RLC executive vice-president Frederick Go said the flat concept is a time-tested product that caters specifically to the balikbayans and Filipino-American retirees due to the living convenience and freedom of a one level setting.

The cost of each units ranges between P3.4 million to P12 million.

Fort Residences is located in the Padre Burgos Circle, a very strategic and prime location close to Manila Golf, Fort Strip, Market! Market! and world-class healthcare and international schools.

The first two projects of the company, Fifth Avenue Place and Mckinley Park Residences, are now sold out.

RLC has earmarked as much as P7 billion this year for the development of new malls, office buildings for business process outsourcing firms, residential projects, and landbanking activities. Of this amount, P3.5 billion will go to the construction of residential and office buildings while P2 billion has been set aside for acquisition of properties for future development.

The company is building seven new malls in Davao, Tagaytay, Dumaguete, Sucat, Manila, Pangasinan, and General Santos. These new malls are expected to be completed next year or in 2008.

RLC is currentlly completing the redevelopment of a portion of Robinsons Galleria and Robinsons Ermita.