PHILIPPINE RETAILING
Robinsons investing P25b in malls , offices
Robinsons Land Corp ., the property unit of the Gokongwei group , will spend P24.6 billion in 2018 to construct new malls , offices , hotels and mixed-used projects as it expects net income to substantially increase this year .
RLC said in a regulatory filing this year ’ s programmed capital expenditures would be financed by internally generated cash from operations and borrowings .
The P24.6-billion spending plan for 2018 excluded capital expenditures for ongoing residential developments in China , it said . The real estate developer said of the total capex , it would allocate 56 % for the development of new malls and expansion of existing ones , offices and hotels , and earmark 12 % to mixed-used developments and masterplanned communities .
It said 13 % would go to the completion of ongoing residential property developments , while the remaining 19 % on replenishing the company ’ s landbank .
RLC said it was scheduled to open four shopping malls this year in Ormoc , Pavia ( Iloilo ), Tuguegarao and Valencia ( Bukidnon ). The new malls will increase RLC ’ s leasable mall area to 1.508 million square meters from 1.389 million sqm as of end 2017 . The company said that with a healthy pipeline of investment projects , it expected recurring income to rise this year .
RLC reported a net income of P5.8 billion in 2017 , up 2 % from the 2016 level even as revenues slightly dipped to P22.5 billion from P22.8 billion .
( The Standard , 4 / 17 / 2018 )
Local News Ayala Land outlines PH , Malaysia expansion in 2018
Ayala Land Incorporated is targeting a slew of new local developments as well as a push into Malaysia as it chases its target of P40 billion in net income by 2020 .
“ We |
now have |
a |
portfolio |
of |
24 |
estates |
and |
we |
plan to launch two |
estates |
this |
year , |
while we will also |
go flat out in the |
development of our |
recently |
launched |
estates |
Circuit |
Makati , |
Vermosa |
in Cavite , and Arca |
South ,” said Ayala |
Land president and chief executive officer Bernard |
Dy . |
“ We are also targeting opening four new malls this year and a retail center in the Ayala North Exchange in Makati that will add about 300,000 square meters
PCCI to identify next tourism attractions
The Philippine Chamber of Commerce and Industry ( PCCI ) is working on identifying the next 20 attractions in the country to help boost local tourism through its Investour Program
PCCI director for tourism and retail Samie Lim , who is concurrently PRA ’ s chairman emeritus , said the program aims to raise US $ 20 Billion investments in local tourism and employ 15 million Filipinos .
2ND QUARTER 2018
( sqm ) to our total shopping center gross leasable area ( GLA ),” he added .
Ayala Land has set a capital expenditure budget of P111 billion for 2018 , compared to the P91 billion in registered spending last year . Earlier this year , Ayala Land also upped its now majority stake in Malaysian developer MCT Berhad to around 66 %.
“ We now have a platform to plan our expansion into Malaysia . The board just recently approved the acquisition of a 9.25-acre [ property ] in Klang Valley , Malaysia that is basically our first land acquisition in Malaysia since we first invested in MCT Berhad ,” Dy said .
“ Klang Valley is home to around 8 million , has fairly good GDP growth of about 5 %, and the population averages around the mid-20s in age ,” he added .
According to Dy , the plan for the Malaysia property is to develop mixed-use estates focused on homes targeted towards the middle income market .
( Rappler , 04 / 18 / 2018 )
The PCCI has consulted with the Local Government Units , local PCCI chapters and industry stakeholders , and initially came up with a list of 10 priority destination areas including Clark , Palawan , Bicol , Ilocos , Bohol , Iloilo , Dumaguete , Tacloban , Davao , and Cagayan de Oro .
The PCCI is looking to promote investments in five areas of tourism including Arrival , Access , Accommodation , Attractions , and Activities .
4
PRA members garner Reader ’ s Digest Trusted Brands Awards
PRA members Mercury Drugstore , SM Supermalls , and Goldilocks emerged as some of the winners at the Reader ’ s Digest Trusted Brand Awards .
Mercury Drug ( Pharmacy / Drug Store ) and SM Supermalls ( Shopping Mall / Center ) were two of the “ Platinum Trusted Brand Award ” winners .
It also targets to attract 20 million foreign and 100 million domestic tourist on the 10th year of the program .
Platinum Trusted Brand Awards were given to brands that performed exceptionally , winning their category with a score that vastly outpolled their nearest competitor .
Goldilocks on the other hand took home the Gold Trusted Brand Awards under the Pastry / Bakeshop category . These are brands that have scored significantly higher than their competition .
“ For 20 years , the Reader ’ s Digest Trusted Brands Survey has been a significant benchmark in various industries when it comes to which brands and services , and personalities , consumers trust the most .
About 4,000 respondents were asked to participate in this year ’ s ‘ Trusted Brand Survey ’. Fifty percent were Reader ’ s Digest subscribers while the other half were chosen to reflect the demographics of the general population .
( The Standard , 04 / 30 / 2018 )