Robinsons Land unit eyes 6 projects in 2024




The Manila Times

Corporate News

RLC Residences, the residential business unit of listed Robinsons Land Corp., is planning to launch six new projects next year if market conditions permit and if buyer confidence “continues to hold.” In an interview with reporters last week, RLC Residences Senior Vice President John Richard Sotelo said the firm could launch around the same number of projects targeted for this year. “We always look at market conditions, at the economy, and also whether the market is ready for the projects,” he added. “[T]his year we have around one or two more launches left, which brings our total launches in 2023 to six or seven. So maybe next year, if the economy holds, and if buyer confidence continues to hold, then we may launch the same number of projects.” An expansion into the premium market was said to have given the company more freedom to explore more design choices for its properties. “Our recognition for our hard work with Le Pont Residences [in Pasay City] makes us more confident that we made the right choice in expanding into that type of project, which caters to the alittle-bit-more-premium market,” Sotelo said. “We will never let go of where we are strong at or where our core customers are ... but expanding into the premium market gives us more freedom to explore and be more innovative when it comes to designs, and the market is agreeing with us,” he added. Sotelo also said that the residential market remained strong despite persistent headwinds such as high interest rates. “There are challenges with high interest rates and inflation, obviously, but there are still segments of the residential market where it’s really going well,” he added. “Moreover, the overseas Filipino workers (OFW) market and overseas Filipinos market still believe strongly in the Philippines, so, overall, I am confident that growth will continue.” Shares of RLC Residences’ parent, Robinsons Land Corp., fell by 30 centavos to P14.70 last Friday.