Frederick Go allots P25.5B for Robinsons Land expansion in 2022

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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Frederick Go spends P6B Robinsons Land REIT funds for Cebu casino hotel, land banking, Aurelia condo

Robinsons Land Corp. has deployed a quarter of the P21.561 billion funds it raised from the initial public offering of its real estate investment trust company over the last four months.

RLC led by bilyonaryo Frederick Go spent a total of P5.66 billion of the RL Commercial REIT (RCR) IPO funds from September to December 2021.

The biggest outlay of P1.415 billion was used for the ongoing construction of RLC’s Nustar Resort and Casino in Cebu City. The P25 billion integrated resort project is on track to open in 2022.

RLC also funneled a total of P900 million to buy land in Pasig (for the further expansion of Bridgetowne) and Calabarzon.

RLC forked out P827 million for its Terrazo housing project inside the Mediterranean-inspired community in Dasmarinas, Cavite.

Another major item on RLC’s spending list is the P720 million it contributed to its 50-50 joint venture Shang Robinsons Properties which is building Aurelia Residences, a high-end condo in Bonifacio Global City.

RLC also burned over half a billion pesos for various structures in its sprawling Bridgetowne township in Pasig – P340 million for GBF office towers 1 & 2; P104 million for Cirrus office tower; and P82 million for Opus Mall.

Here is the breakdown of how RLC spent its REIT funds from September to December 2021:

1) NuStar Hotel and Mall (Cebu) P1.415 billion

2) Terrazo At Robinsons Vineyard P826.473 million

3) Shang Robinsons Properties (Aurelia BGC) P702.208 million

4) Land acquisition (Pasig City) P594.655 million

5) GBF office Towers 1 and 2 (Bridgetowne) P340.518 million

6) Land acquisitions (Calabarzon) P299.615 million

7) Sierra Valley Gardens buildings 1 and 2 (Cainta) P203.881 million

8) SYNC – S Tower (Pasig) P201.347 million

9) Robinsons Place Gapan P186.074 million

10) The Sapphire Bloc – East Tower P178.613 million

11) Montclair (Pampanga) P143.703 million

12) Robinsons Place Antipolo Expansion P136.176 million

13) RLX Mexico Pampanga P134.061 million

14) Westin Sonata Hotel P116.982 million

15) Cirrus (Bridgetowne) P104.029 million

16) Summit Hotel GenSan P90.16 million

17) Gateway Regency Studios P83.427 million

18) Opus Mall (Bridgetowne) P82.012 million

19) Robinsons Place La Union P70.861 million

20) Galleria Residences Cebu – Tower 2 P64.929 million

21) Galleria Residences Cebu – Tower 3 P48.172 million

22) Galleria Residences Cebu – Tower 1 P44.009 million

23) Springdale Angono P37.222 million

24) Acacia Escalades (Quezon City) building B P37.962 million

25) Summit Hotel Naga / Go Hotels Naga P20.406 million

26) Robinsons Place Dumaguete Expansion Phase 1 P16.764 million

27) The Radiance Manila Bay – South Tower P12.413 million

28) The Magnolia Residences – Tower D P10.491 million

29) The Residences at The Westin Manila Sonata Place P7.946 million

30) Robinsons DoubleDragon P6.946 million

31) Southsquare Village P5.345 million

32) Bloomfields General Santos P5.019 million

33) Brighton Bacolod P2.833 million

SOURCE: Bilyonaryo

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Property Man of the Year: Frederick Go takes crown at FIABCI Prix d’Excellence Awards

Bilyonaryo Frederick D. Go, who heads Robinsons Land Corp. (RLC), bagged one of the most coveted honors at the 2021 Property and Real Estate Excellence Awards, a recognition of his unfaltering commitment to deliver a high level of value and service to the industry.

Go won the Prix d’Excellence Property Man of the Year, an award given by the International Real Estate Federation (FIABCI).

” This is an award that is, and will always be, a result of the dedicated and collective teamwork of our people at Robinsons Land. At RLC, we continuously strive to create shared success with every Filipino through the projects we build, the communities we shape, and the sustainable practices we promote.

Winning an award drives me to strive harder, and this will fuel RLC Residences to keep building dreams so Filipinos can live their best lives,” said Go.

Also a big boost to RLC’s efforts to produce quality projects are the gold recognitions the company received for two high-rise developments. These include The Magnolia Residences, located at the mixed-use Robinsons Magnolia Complex, and the AMiSa Private Residences in Cebu.

“We are grateful to FIABCI Philippines for recognizing these properties that we are very proud to call ours. These awards came at perfect timing, as we are preparing to launch new well-designed developments this coming 2022 with improved product and service offerings for our future homeowners,” said John Richard Sotelo, RLC Residences SVP and general manager.

 SOURCE: Bilyonaryo

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Frederick Go snaps up P11M Robinsons Land shares despite Omicron threat

Bilyonaryo Frederick Go picked up a handful of Robinsons Land Corp. (RLC) shares amid fears of a new COVID-19 variant that could derail the shopping mall snapback.

The RLC president and CEO bought 600,000 shares at a price range of between P17.50 and P18.30 on November 29.

The purchase raised his stake to 3.9 million worth P69.42 million.

RLC said foot traffic and operating capacity have increased in its malls nationwide. Go is hopeful this “revenge visit” would continue through Christmas and New Year festivities.

Malacanang announced on November 29 that it was retaining Alert Level 2 over Metro Manila until December 5 as infections continue to drop due to the accelerated vaccination.

The Palace, however, suspended its plan to welcome fully-vaccinated foreign travelers from green listers or countries with low COVID-19 transmission rates which was supposed to start on December 1.

SOURCE: Bilyonaryo

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Frederick Go gives Robinsons Land shareholders more reasons to hold on to shares: P3B buyback program underway

Gokongwei-led Robinsons Land Corp. has approved a share repurchase program worth P3 billion, reinforcing the company’s strong cash position despite the ongoing coronavirus crisis.

Share buybacks have become the most common way of returning cash to investors at many companies.

“The board unanimously approved the stock buyback program. The recent REIT listing of RL Commercial REIT (RCR) and its subsequent strong performance, crystalizes the value of RLC”, said Frederick D. Go, president and CEO of RLC.

RLC has a strong balance sheet with total assets of P214 billion and a low debt-to-equity ratio of just 39 percent as of June 30.

The real estate arm of the Gokongwei family raised P23.5 billion from the oversubscribed initial public offering of RCR, which would be deployed for various businesses in the next 11 months.

RLC closed 6.46 percent higher Friday at P18.80. Its market capitalization stood at P91.7 billion.

 The share buyback program will not involve any active and widespread solicitation from the stockholders and will be implemented in the open market through the trading facilities of the PSE. Moreover, the share buyback program will not affect any of the Company’s prospective and existing projects and investments.

Shares purchased under the buyback program will be booked as treasury shares of the company.

SOURCE: Bilyonaryo

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Frederick Go barrels through pandemic as RLC nearly quadruples Q2 earnings

Frederick Go barrels through pandemic as RLC nearly quadruples Q2 earnings

While the unprecedented COVID-19 health crisis has wreaked havoc on many businesses large and small, Robinsons Land Corp., the property arm of the Gokongwei family, has prospered and is likely to stay successful in the post-pandemic world.

While the unprecedented COVID-19 health crisis has wreaked havoc on many businesses large and small, Robinsons Land Corp., the property arm of the Gokongwei family, has prospered and is likely to stay successful in the post-pandemic world.

Led by its president Frederick Go, RLC delivered blockbuster profits in the second quarter, growing almost four-fold to P2.56 billion amid improving consumer sentiment. This brings the company’s six-month earnings to P5.45 billion or 48 percent more than the previous year as revenues surged 55 percent to P26 billion on the steady recovery of core businesses.

Earnings from the group’s residential project in China, Chengdu Ban Bian Jie as well as sale of land within the Bridgetown Destination Estate along E. Rodriguez Jr. and Ortigas Avenue also boosted RLC’s profitability.

RLC sold over 26,00 square meters of land in Bridgetowne East to Shang Robinsons Properties Inc. and RHK Land Corp.

The company generated P10.5 billion in revenues from the Chengdu project with the turnover of phase 1 condominium units.

“Our performance for the first half of the year is a testament to the success of our strategic initiatives, which positions the company for recovery and growth. Amidst the very challenging business environment, we continue to pursue new opportunities and agile innovations to deliver sustainable value to all our stakeholders,” said Go.

The commercial centers segment reported revenues of P4.19 billion while the office buildings continued to show resilience with revenues rising three percent to P3.11 billion.

Revenues from the residential division reached P4.74 billion while net pre-sales rose 19 percent led by the strong performance of The Sapphire block, Sierra Valley Gardens in Cainta and AmiSa Private Residences in Mactan, Cebu.

The hotels and resorts business, meanwhile saw EBITDA grow 28 percent to P122.1 million on the back of operational efficiencies and higher demand for quarantine hotels and long-stay accommodations.

Revenues from the industrial division went up by 14 percent to P127.3 million, driven by its ffacilities in Sucat, Muntinlupa, Sierra Valley in Cainta and Calamba, Laguna.

SOURCE: Bilyonaryo

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