Robinsons Land Corporation

“Robinsons Land remains steadfast in its commitment to deliver value to stakeholders as it seeks to be one of the fastest-growing developers in the Philippines in terms of profit. The company will achieve this by offering well-designed, innovative, and high-quality developments that all stakeholders can be proud of; developing sustainable real estate projects; and building landmark destination estates.”

- Frederick D. Go,

President and Chief Executive Officer
Robinsons Land Corporation (RLC), incorporated in 1980, is the real estate arm of JG Summit. It is one of the leading mixed-use property developers in the Philippines with a proven track record of over 30 years in the industry. RLC has a diversified portfolio with core businesses in lifestyle malls, offices, hotels, integrated townships, industrial buildings, and residential developments.
Robinsons Land Corporation (RLC), incorporated in 1980, is the real estate arm of JG Summit. It is one of the leading mixed-use property developers in the Philippines with a proven track record of over 30 years in the industry. RLC has a diversified portfolio with core businesses in lifestyle malls, offices, hotels, integrated townships, industrial buildings, and residential developments.

2019 Financial Performance and Key Developments

₱ 30.6 billion, +3%

Revenue

₱ 17.2 billion, +5%

EBITDA

₱ 12.3 billion, +3%

EBIT

₱ 8.7 billion, +6%

Net Income

RLC capped 2019 with consolidated revenues of Php30.6 billion, registering a 3% year-on-year growth driven by the strong performance of recurring-income businesses under its investment portfolio. Composed of malls, offices, hotels, and industrial facilities, the investment portfolio contributed 69% of total revenues, while the balance came from the sale of residential units and land parcels that form part of the development portfolio. EBITDA increased steadily by 5% to Php17.2 billion, while EBIT landed at Php12.3 billion for a marginal growth of 3%. The year ended with a 6% rise in consolidated net income to Php8.7 billion from Php8.2 billion in 2018.

2019 was a year of delivering strategic expansion opportunities across the company’s core business segments.
RLC further strengthened its mall portfolio with the opening of Robinsons Galleria South and the expansion of Robinsons Magnolia to end the year with 52 lifestyle centers nationwide spanning across 1.57 million square meters (sqm) of gross leasable area. Robinsons Galleria South is the third lifestyle center under the premium Galleria brand and the first full-service mall in San Pedro, Laguna. Exuding a sense of grandeur with a whimsical vibe, the mall quickly established itself as a must-visit destination in the province. Meanwhile, Robinsons Magnolia opened a new expansion wing featuring a well-curated mix of retail and dining outlets, a redesigned green park with public art installations, cutting-edge movie theaters, a family amusement center, and a chapel.
2019 was also marked by the completion of three new office developments namely Cybergate Magnolia within the Magnolia Complex in Quezon City, Giga Tower within the Bridgetowne estate in Quezon City, and RLC’s second build- to-suit office property in Luisita, Tarlac. These prime office projects increased total net leasable space to 592,000 sqm. RLC’s office developments continue to receive strong interest from various locators due to their ideal location, large floor plates, world-class engineering designs, efficient and reliable facilities, and sustainable green building features.
The Company likewise made great strides towards its vision of building one of the best and biggest multi-branded hotel portfolios in the Philippines. Robinsons Land opened Summit Hotel Greenhills in San Juan, its sixth hotel under the company-owned Summit brand. Offering modern amenities and personalized service, the newest lifestyle hotel provides a haven for rest in a city where work and play converge. On top of this, RLC achieved a defining milestone with the launch of Dusit Thani Mactan Cebu, its first foray into the luxury resort market. Located in the picturesque Punta Engaño on the tip of Mactan Island, the five-star beachfront resort features stunning views, sophisticated architectural designs, and a signature 100-meter infinity pool. With these new developments, the hotel business wrapped up 2019 with 20 company-owned hotel properties and 5 franchisees.
RLC further cemented its strong foothold in the residential sector with a remarkable 31% increase in net pre-sales of residential projects. It successfully launched four new residential developments – The Sapphire Bloc East Tower, Galleria Residences Cebu Tower 3, Cirrus, and the S Tower in SYNC. In addition, the Company launched Aurelia Residences, a joint venture project with Shang Properties, Inc. that is set to redefine urban luxury living. Featuring a limited collection of 285 bespoke residences at the heart of Bonifacio Global City, Aurelia Residences will be a collaborative masterpiece of world-renowned architects and interior designers. Riding on the momentum of this successful collaboration, RLC forged a joint venture partnership with DMCI Project Developers, Inc. for the development of a multi-tower residential project in Las Piñas.
The industrial facilities portfolio climbed on the growth momentum as well and demonstrated strength in generating revenues as it continues to expand its geographical footprint. With locations in Sucat, Muntinlupa, and Laguna, it closed 2019 with 77,000 sqm of total leasable space.
The Company also achieved significant progress in its landmark destination estate developments namely Bridgetowne and Sierra Valley. Bridgetowne, RLC’s first destination estate development, was officially inaugurated last September 2019. The highlight of this sprawling community is an iconic bridge that runs across the Marikina River and connects two major cities: Quezon City and Pasig City. The 30-hectare estate will soon herald the next wave of developments that will enable Filipinos to embrace the live- work-play-dream lifestyle in a single locale. For Sierra Valley, an 18-hectare destination estate in Cainta and Taytay, Rizal, land development works have been completed and interim commercial locators are in place.
Complementing its efforts on local businesses in 2019, RLC marked the successful sell out and completion of residential condominium units in Phase 1 of its Chengdu Ban Bian Jie project in China. The Company will continue to realize earnings from its international investment in the years to come.

2019 Financial Performance and Key Developments

2 New Malls
3 Office Developments
2 New Hotels
rlc-icons-residential
4 New Residential Developments
2 Destination Estate Developments

5-Year OGSM

RLC is set to embark on the next 5 years with the goal of becoming the fastest growing developer in the country in terms of profit. It seeks to create value by offering well-designed, innovative, and high-quality property developments that all stakeholders can be proud of. The Company is committed to consistently deliver on these growth objectives to be the leading developer of sustainable real estate projects and landmark destination estates.
Resources and efforts will be focused on strengthening existing business formats and expanding the Company’s footprint. In addition, as a response to evolving customer needs and preferences, RLC will invest in redefining customer service standards, offering premium property developments, and introducing breakthrough innovations.
On the Human Resources front, RLC is working to cultivate a collaborative and customer-centric company culture that is deeply committed to excellence. Following a comprehensive organizational review, it has begun improving its talent pool with the addition of key executives, and the formation of focused teams for land acquisition and construction management, as well as learning and development. The Company will continue to strengthen the organization in terms of structure, culture, people resources, and processes to support its growth ambition.
As RLC rolls out its project pipeline in the coming years, the Company shall be guided by the strategic thrusts and principles at the core of its OGSM, which will be monitored and refined amidst a rapidly-changing and highly- competitive business environment.

Future Business Outlook

“Looking ahead, RLC will continue to widen its geographical reach and strengthen its presence in highly-urbanized communities, adjacent metro areas, and key emerging cities nationwide.”

Looking ahead, RLC will continue to widen its geographical reach and strengthen its presence in highly-urbanized communities, adjacent metro areas, and key emerging cities nationwide. As the company navigates its path towards a sustainable future, it will take steps to grow its land bank through strategic property acquisitions. In parallel, the Company will actively pursue synergistic opportunities with both public and private institutions to deliver projects of greater value to its customers.
With clear focus on driving synergy, sustainability, and innovation, RLC is optimistic that it will achieve more milestones and cement its market leadership in the future.
Visit RLC’s 2019 digital annual report for more information.