Frederick Go spends P6B Robinsons Land REIT funds for Cebu hotel resort, land banking, Aurelia condo
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Frederick Go spends P6B Robinsons Land REIT funds for Cebu hotel resort, land banking, Aurelia condo

Robinsons Land Corp. has deployed a quarter of the P21.561 billion funds it raised from the initial public offering of its real estate investment trust company over the last four months.

RLC led by bilyonaryo Frederick Go spent a total of P5.66 billion of the RL Commercial REIT (RCR) IPO funds from September to December 2021.

The biggest outlay of P1.415 billion was used for the ongoing construction of RLC’s Nustar Resort in Cebu City. The P25 billion integrated resort project is on track to open in 2022.

RLC also funneled a total of P900 million to buy land in Pasig (for the further expansion of Bridgetowne) and Calabarzon.

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A Stellar Year for RLC Residences

RLC forked out P827 million for its Terrazo housing project inside the Mediterranean-inspired community in Dasmarinas, Cavite.

Another major item on RLC’s spending list is the P720 million it contributed to its 50-50 joint venture Shang Robinsons Properties which is building Aurelia Residences, a high-end condo in Bonifacio Global City.

RLC also burned over half a billion pesos for various structures in its sprawling Bridgetowne township in Pasig – P340 million for GBF office towers 1 & 2; P104 million for Cirrus office tower; and P82 million for Opus Mall.

Here is the breakdown of how RLC spent its REIT funds from September to December 2021:

1) NuStar Hotel and Mall (Cebu) P1.415 billion

2) Terrazo At Robinsons Vineyard P826.473 million

3) Shang Robinsons Properties (Aurelia BGC) P702.208 million

4) Land acquisition (Pasig City) P594.655 million

5) GBF office Towers 1 and 2 (Bridgetowne) P340.518 million

6) Land acquisitions (Calabarzon) P299.615 million

7) Sierra Valley Gardens buildings 1 and 2 (Cainta) P203.881 million

8) SYNC – S Tower (Pasig) P201.347 million

9) Robinsons Place Gapan P186.074 million

10) The Sapphire Bloc – East Tower P178.613 million

11) Montclair (Pampanga) P143.703 million

12) Robinsons Place Antipolo Expansion P136.176 million

13) RLX Mexico Pampanga P134.061 million

14) Westin Sonata Hotel P116.982 million

15) Cirrus (Bridgetowne) P104.029 million

16) Summit Hotel GenSan P90.16 million

17) Gateway Regency Studios P83.427 million

18) Opus Mall (Bridgetowne) P82.012 million

19) Robinsons Place La Union P70.861 million

20) Galleria Residences Cebu – Tower 2 P64.929 million

21) Galleria Residences Cebu – Tower 3 P48.172 million

22) Galleria Residences Cebu – Tower 1 P44.009 million

23) Springdale Angono P37.222 million

24) Acacia Escalades (Quezon City) building B P37.962 million

25) Summit Hotel Naga / Go Hotels Naga P20.406 million

26) Robinsons Place Dumaguete Expansion Phase 1 P16.764 million

27) The Radiance Manila Bay – South Tower P12.413 million

28) The Magnolia Residences – Tower D P10.491 million

29) The Residences at The Westin Manila Sonata Place P7.946 million

30) Robinsons DoubleDragon P6.946 million

31) Southsquare Village P5.345 million

32) Bloomfields General Santos P5.019 million

33) Brighton Bacolod P2.833 million

 

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