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MANILA - After adopting a cautious stance at the start of the year, Robinsons Land Corp. plans to be more aggressive in its residential business to take advantage of strong demand.
RLC president Frederick Go said the Gokongwei-led developer will boost its sales efforts.
"For us in the past, we proceeded with more caution. But we think the market is so strong so we are taking steps to intensify now our sales efforts. You can expect in the coming near future, our sales will pick up," Go said.
At the start of the year, RLC said its focus will be on expanding its shopping centers, office and hotels to raise the contribution of its recurring income amid fierce competition in the residential market.
This prompted the property developer to be more selective with its land banking and product launches.
"If before we were slowing down on our land banking efforts for residential, that means we will do the opposite. We will now have to start becoming more aggressive in land acquisition," Go said.
RLC submitted a bid for the Food Terminal Inc. property in Taguig, but lost to Ayala Land Inc.
Its residential division contributed 31 percent to total revenues.
The company posted revenues of P3.31 billion in the first nine months of its fiscal year ending September, or 6 percent higher than last year’s P3.11 billion.
This pushed net income attributable to equity holders by a tenth to P3.35 billion from P3.05 billion in 2011.
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