Bilyonaryo Frederick Go is splurging P25.5 billion on Robinsons Land Corp. (RLCP) expansion in 2022.
Latest audited financial statement, RLC said it would dip into its retained earnings of P65 billion as of 31 December 2021.
RLC spent a combined P48 billion during the pandemic-truck 2020 and 2021 when real estate sales and construction and the tourism industry were staggered by the health protocols and lockdowns to contain COVID-19.
RLC said the domestic capital spending this year would cover subdivision land, condominium, residential units and other properties for sale and lease.
The property arm of the Gokongwei empire is currently focusing its resources on its latest hotel projects in Cebu.
RLC is building three hotels inside Cebu’s first integrated resort development – NUSTAR Hotel Cebu (the only ultra-luxury hotel outside of Metro Manila), Fili (a five-star resort offering genuine Filipino hospitality), and Grand Summit (a lifestyle celebrations hotel).
SOURCE: Bilyonaryo
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