Robinsons to open 4 malls by year-end
March 11, 2013 10:27 pm
MANILA, March 11 - Robinsons Land Corp. of the Gokongwei group is spending P6 billion this year for the construction of four shopping malls slated to open by yearend.
The Robinsons Place Isabela and Roxas will open this October and November. Its malls in Roxas and Butuan City will both open in December.
The four new malls will bring the companys total malls to 36 with total leasable mall space of one million square meters.
Normally, from the day we open, we are 90 percent leased. So in about another year's time all the four malls will be fully leased, Frederick Go, the company's president, told reporters at the sidelines of the launch of the new malls.
RLC reported a net income of P4.2 billion in its fiscal year ending September 2012, up by seven percent from the previous year.
Revenues, meanwhile, reached P13.52 billion, an increase of six percent from the previous year's P12.81 billion. (PNA)