February 10, 2016 at 11:20 pm
Jenniffer B. Austria
Robinsons Retail Holdings Inc., the retail holding company of the Gokongwei group, said Wednesday it will open two Robinsons Townville community malls this year.
RRHI investor relations officer Gina Roa-Dipaling said in an interview the company was scheduled to open Robinsons Townville in Fairview, Quezon City this month and another in the latter part of the year.
RRHI now has 10 community malls.
Roa-Dipaling said the group, which had been building community malls over the past five years, decided to brand the stand-alone developments as Robinsons Townville in 2015.
RRHI earlier targeted to build two community malls every year over the next five years.
The concept for Robinsons Townville project is to bring the retail brands closer to the consumers, the company said.
About 70 percent of the leasable space will be reserved to affiliates such as Robinsons Supermarket, Mini-Stop, Southstar Drug Store, Handyman and True Value.
Robinsons Townville community malls have an average size of 5,000 square meters to 10,000 square meters and are situated in populated areas in the outskirts of Metro Manila.
Other property firms that are also engaged in community malls development include DoubleDragon Properties Inc., which targeted to have 100 malls by 2020 and Lucio Co-owned Cosco Capital which is currently building six community malls in Cabanatuan, Nueva Ecija; Baler, Aurora; Binan, Laguna; and Santiago City, Isabela.
RRHI currently has six business segments including supermarkets, department stores, do-it-yourself stores, convenience stores, drug stores and specialty stores.
Some of the brand names under RRHI include “Handyman Do it Best”, “True Value”, “Topshop”, “Topman”, “Toys “R” Us” and “Ministop”.
RRHI’s net income attributable to equity holders of the parent company rose 26.7 percent in the first nine months of 2015 to P2.97 billion from P2.35 billion in the same period last year.
Nine-month consolidated net sales increased 12.7 percent to P63.29 billion from P56.18 billion a year ago.