Quantcast
Latest Stories

Robinsons Land unveils project in Ortigas CBD

By

photo from facebook.com

MANILA, Philippines—Robinsons Land Corp. of the Gokongwei group has unveiled its biggest property project at the Ortigas central business district to date—a lifestyle-oriented block consisting of four residential towers and a retail hub.

RLC acquired additional parcels of land in Ortigas to form the 8,300-square-meter “The Sapphire Bloc,” which will have four residential towers and a 2,000-sqm retail space for gourmet restaurants, dessert bars as well as coffee shops and service outlets, officials said in a briefing on Monday.

In an interview, RLC vice president for business development and financing Mybelle Aragon-Gobio said RLC originally owned only 2,500 square meters of land in the area that was supposed to accommodate only two residential buildings. But encouraged by the strong takeup of the first Sapphire tower, she said RLC took the opportunity to acquire adjacent properties foreclosed by banks and come out with this development bounded by Sapphire, Garnet and Onyx streets.

Aragon-Gobio said the 38-story first tower, which was launched a year ago, would likely yield P1.6 billion in sales revenue. RLC has now sold 60 percent of the 408 units in the first tower. The 40-story second tower, which will have 482 units, will be launched next year.

RLC will turn over the residential units in tower 1 by 2016, when the retail component on the ground floor opens its doors to the public, she said.

The Sapphire Bloc is offering one-bedroom units, the biggest of which measures 37.30 sqm, for P4.16 million. Two-bedroom units, measuring 60 sqm, are selling for P6.74 million. The three-bedroom units, at 97 sqm, go for as much as P10.77 million.

The units are effectively selling for around P110,000 per square meter.

Aragon-Gobio said the project was in line with RLC’s thrust toward “selective prudent expansion” in the residential property market.

“We’re focusing on the market that’s more stable,” she explained.

The Art Deco-inspired project is designed by W.V. Coscoluella and Associates, one of the country’s top architecture firms.


Follow Us


Follow us on Facebook Follow on Twitter Follow on Twitter


Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , News , Philippines - Metro , property , Real Estate , Robinsons Land Corp , Saphhire Bloc



Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94
Advertisement
Advertisement

News

  • Nepal officials go to Everest to try to end crisis
  • Escudero ready to defend self should name appear in Napoles’ list
  • Obama calls for peaceful end to island dispute
  • Russia not abiding by agreement on Ukraine—Obama
  • Magnitude 6.7 quake off British Columbia coast
  • Sports

  • Promoters Dela Hoya, Arum in talks for Pacquiao-Alvarez—report
  • Benzema guides Madrid to 1-0 win over Bayern
  • Suns’ Goran Dragic win NBA’s Most Improved Player award
  • Heat go up 2-0, hold off Bobcats 101-97
  • Ronaldo shakes off injury fears to play Bayern
  • Lifestyle

  • Photos explore dynamics of youths’ sexual identity
  • 12th Philippine Food Expo set at the World Trade Center
  • No tourist draw, Malang the croc will remain wild
  • The best flavors of summer in one bite, and more
  • Homemade yogurt, bread blended with pizza, even ramen
  • Entertainment

  • Has Ai Ai fallen deeply with ‘sireno?’
  • Sony developing live-action Barbie comedy
  • California court won’t review Jackson doctor case
  • Return of ‘Ibong Adarna’
  • Practical Phytos plans his future
  • Business

  • Facebook profits triple as mobile soars
  • Insular Honors Sales Performers at Testimonial Rites
  • Apple increases stock buyback, will split stock
  • Cost-recovery provisions for affected gencos urged
  • This time, BIR goes after florists
  • Technology

  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • ‘Unlimited’ Internet promos not really limitless; lawmakers call for probe
  • Viber releases new design for iPhone, comes to Blackberry 10 for the first time
  • Opinion

  • Editorial cartoon, April 24, 2014
  • Talking to Janet
  • Respite
  • Bucket list
  • JPII in 1981: walking a tightrope
  • Global Nation

  • PH-HK relations repaired, but families of victims still being courted
  • Filipinos in Middle East urged to get clearance before returning
  • PH seeks ‘clearer assurance’ from US
  • China and rivals sign naval pact to ease maritime tensions
  • What Went Before: Manila bus hostage crisis
  • Marketplace