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Robinsons signs joint venture on Ilocos mall

By Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
First Posted 09:06:00 05/29/2008

Filed Under: Retail, Company Information

MANILA, Philippines--Robinsons Land Corp., the property arm of tycoon John Gokongwei Jr., said it had signed a joint-venture agreement with Ilocos-based real estate company Venvi Development Corp. to build a shopping mall in the northern province of Ilocos Norte.

It said its commercial centers division would build a two-level mall along the national highway in San Francisco village in the town of San Nicolas.

The mall will be a key component of a 20-hectare mixed-use development by Venvi, headed by Hilario Valdez as president, which will include residential and office buildings, hotels and call centers.

The mall, to be named Robinsons Ilocos Norte, is expected to be completed by end-2009 with anchor retailers Robinsons Department Store, Robinsons Supermarket, Handyman-Do It Best Home Center, as well as cinemas, an amusement center and a food court.

Robinsons Land at present has 23 shopping malls, 26 residential condominiums, six office buildings, 31 residential subdivisions and four hotels.

It earlier said it planned to build at least six malls this year. Company president Frederick Go said the expansion was part of a P10-billion capital expenditure plan for 2008.

Plans are malls in Pulilan, Bulacan; Tacloban, Leyte; Cabanatuan, Nueva Ecija; Davao; Cebu, and Dumaguete City, Negros Oriental. Edited by INQUIRER.net



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