RLC expanding market reach via new program

Gokongwei-led Robinsons Land Corp. unveiled yesterday a portfolio of ready-for-occupancy high-rise residential condominium units pooled into a new program offering attractive financing plans, including lease-to-own options.

In a briefing, RLC senior vice president Mybelle Aragon-GoBio said that as a strategy, the property firm was carving out some units out of each residential development in the pre-selling inventory. This allows RLC to unlock higher values from these units when sold once the project is completed.

The new program called “Right Homes” seeks to tap a market looking for finished homes in strategic locations.

Residential units in 15 completed projects in Metro Manila, Tagaytay and Cebu have been pooled into the “Right Homes” program, catering to all market segments. Of the projects in Metro Manila, readily available homes are offered in RLC’s Mandaluyong, Bonifacio Global, Ortigas Center and Parañaque.

This program is seen as an alternative to the pre-selling or pre-construction projects, wherein clients decide on the bases of floor plans and model units. This allows buyers the chance to buy homes in a completed master-planned setting, allowing them to ascertain the quality of the development in a tangible manner.

GoBio said that with the worsening traffic in and stress of city living, demand for ready-for-occupancy residential units had been rising. But while completely built units are typically more expensive to buy than those acquired through pre-selling, RLC teamed up with partner banks to craft a payment scheme that will address price points.

“There are people who can’t afford to pay for amortization and rent at the same time. But it’s important for them to invest in a place or buy a home where there is a single payment,” she said.

Under the lease-to-own program, for instance, GoBio said 100 percent of rental payment made in a year or two would be credited as part of the purchase financing.