By Leslie D. Venzon
MANILA, July 19 (PNA) — Gokongwei-led multi-format retailer Robinsons Retail Holdings Inc. (RRHI) plans to invest Php3 billion to Php4.5 billion to put up 10 more community malls in the next five years, optimistic about the country’s retail industry.
RRHI President and Chief Operating Officer Robina Gokongwei-Pe said the company aims to open two community malls per year, branded as Robinsons Townville.
“These are like supermarkets with extra space for lease to our other brands as well as quick service restaurants,” she told reporters, noting that each community mall ranges in size from 5,000 square meters to 10,000 square meters.
Jody Gadia, Robinsons Supermarket General Manager, said they target to roll out a community mall in Regalado, West Fairview this November, after opening one in barangay Buhay na Tubig in Imus, Cavite earlier this year.
“(But) if we can open three or four (a year), so much the better. We have been doing pretty good; customer shopping is gaining traction there,” he said, adding that investment cost for a community mall ranges from Php300 million to Php450 million depending on the size.
Robinsons Retail has already developed nine community malls, including those located in BF Homes, Cabanatuan, Pulilan and Meycauayan in Bulacan, Valenzuela, Nuvali in Laguna and Abreeza mall in Davao City.
Gokongwei-Pe believes that that the Philippines is still vastly underpenetrated in terms of modern retail.
“There is an abundant stream of unexplored areas to enter and plenty of opportunities for market consolidation. The quest for more retail space will continue for our company,” she said.
RRHI operates retail formats under six business segments, namely supermarkets, department stores, DIY stores, convenience stores, drug stores and specialty stores. (PNA)