A new business district in Taguig City will soon rise under a partnership between Gokongwei’s Robinsons Land Corp. (RLC) and the state-run Bases Conversion and Development Authority (BCDA).
RLC informed the local bourse on Friday that the plan, dubbed the Bonifacio Capital District, will usher in an elevated urban living in Metro Manila — combining residential, commercial, office, hotel, and recreational spaces into a 61,761-square meter community.
“The Bonifacio Capital District project embodies this aspiration, and we are excited to contribute to the growth and development of this vibrant area,” RLC senior vice president and BU general manager Maybelle V. Aragon-GoBio said.
RLC, however, did not disclose additional information about the plan such as the capital investments it will entail and the official start of the development.
The Bonifacio Capital District will be adjacent to the New Senate Building now under construction as and the Lawton station of the Metro Manila Subway Project.
Running perpendicular to Chino Roces Avenue Extension, Bonifacio South Main Boulevard will serve as the northern boundary of the property development.
Profit hits P7.25B
In a separate disclosure, RLC reported a profit of P7.25 billion in the first half, primarily attributed to its investment properties.
The company said net income attributable to parents saw a 25 percent year-on-year increase. Excluding a one-time gain from the reclassification of its GoTyme investment, the net income attributable to parents reached P6.52 billion, representing a 9 percent growth.
Meanwhile, consolidated revenues experienced a 9 percent growth in the first six months to P21.33 billion compared to the same period the previous year.
RLC’s investment portfolio delivered double-digit growth in the topline during the first half.
Comprising malls, offices, hotels and warehouse segments, revenues surged by 15 percent year-on-year to P15.86 billion, accounting for 74 percent of the consolidated revenues.