Property developer Robinsons Land Corp. is preparing to launch up to P16 billion worth of residential projects.
“We remain conservative but cognizant of the strong demand in our residential division business. The demand for housing units remains resilient supported by steady OFW inflows, attractive lending rates and the availability of mortgage financing from banks,” Robinsons Land president Frederick Go said during the annual shareholders’ meeting.
One major residential development the company will launch is the Westin Residences, a 50-story tower in Ortigas central business district, with total sales value of P6 billion.
Go said the company would continue to evaluate each project and the market before launching the planned housing projects. “The actual launch of projects, however will be phased and dependent on market conditions,” Go said.
Go said the company was targeting to open three to four shopping malls annually to bring the total to 55 stores by 2019.