Robinsons Land eyeing to launch 2 residential projects in second half

GOKONGWEI-LED property developer Robinsons Land Corp. (RLC) will likely launch at least two new residential projects in the second half of the year, a company official said on Monday.

“We’ll probably launch one to three projects for the rest of the year, depending on the location,” said RLC Senior Vice-President and RLC Residences General Manager John Richard B. Sotelo on the sidelines of the Economic Journalists Association of the Philippines-San Miguel Corp. Economic Forum 2024.

Mr. Sotelo said the company is considering launching two to three towers in Cainta, Rizal as it has already launched four towers.

“So we’re thinking of launching maybe two to three more because demand has been very good. If we launch another one after that, we’ll see. Depends on how the market goes,” he said.

Mr. Sotelo said the company is considering launching two to three towers in Cainta, Rizal, having already launched four towers.

“Demand has been very good. If we launch another one after that, we’ll see. It depends on how the market goes,” he added.

He also said that RLC is optimistic about the prospects of the residential market following its sales performance of approximately P21 billion worth of projects launched in the past four months.

“We just launched the second tower of Le Pont last July 4… If you combine that with Mira, which we launched in April, we’ve already launched roughly P21 billion worth of inventory in the past four months,” Mr. Sotelo said.

“The market response has been good, which honestly, we expected to be good but not this good. Because, whatever you say, it’s still a high-interest-rate environment, and inflation is still a bit high, but the response has been quite good,” he added. — Sheldeen Joy Talavera