MANILA, Oct. 21 (PNA) — Robinsons Land Corporation (RLC), the real estate arm of JG Summit Holdings Inc., expects to spend next year P15 billion to P17 billion capital expenditures, mainly for shopping mall development.
On the sidelines of its 25th listing anniversary on Tuesday, RLC president Frederick Go said the company will open this fiscal year until September 2015 the expanded shopping mall in Novaliches and new ones in Las Pinas, Antique and Cebu.
Go said these malls will increase gross leasable area by 11 percent year-on-year.
RLC has expanded its business portfolio to 38 malls.
“The outlook (for the property sector) remains very good. We had a great three to four years run. I think the market should be more steady at this point,” he said.
Apart from shopping malls, Go said the company will develop more office buildings, hotel properties and residential buildings next year.
“The market is good, the demand is there, we will continue to build more residential (projects)… I think we can capitalize on all these opportunities in the market,” he said. (PNA)