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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Sys, Ayalas, Gokongweis, 7 business groups back return to office

Some seven business organizations and six companies welcomed the government’s push for people to return to the workplace which they said was a “significant step towards the country’s journey to post-pandemic normalcy.”

n a statement, the business groups said they were looking forward to seeing an increase in business activity with employees returning to the workplace.

“The path to recovery, we aver, begins with the presence in the business and commercial centers of our country’s workers,” they said.

These businesses include Ayala Land, SM Prime, Robinsons Land, Chamber of Real Estate and Builders Association Inc., Federation of Filipino Chinese Chambers of Commerce and Industry, Financial Executives Institute of the Philippines, Go Negosyo, Management Association of the Philippines, Megaworld, Philippine Constructors Association, Philippine Retailers Association, Philippine Chamber of Commerce and Industry and Resto PH.

They said the experience from Typhoon Odette last year showed that working from home is not meant for all businesses and should be temporary.

“Economic momentum has been established and we are now within easier reach of the prosperity we enjoyed in 2019. We encourage the public to now venture out of their homes while still maintaining safety protocols,” they said.

 SOURCE: Bilyonaryo

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