Robinsons Land building first full-service bank in Palawan

MANILA, Philippines -  Robinsons Land Corp. (RLC) is building its first full service mall in Palawan, slated for opening in the last quarter.

Located on a 19-hectare lot along the national highway in Puerto Princesa City, the two-level Robinsons Place Palawan will be RLC’s 31st in its fast-growing chain of full service and specialty malls when it opens in November this year.

Arlene G. Magtibay, Robinsons Malls’ general manager, said the company also intends to develop a residential subdivision and a hotel under the Gohotels brand.

The mall will have a gross floor area of over 30,000 square meters, featuring a wide variety of retail shops and restaurants as well as entertainment and recreational facilities.

Robinsons Place Palawan will be the only establishment in Puerto Princesa that will have cinemas. It will also house al fresco dining and wellness centers that will cater to both local residents and tourists.

Robinsons Place is conveniently located 15 minutes away from the Puerto Princesa airport, and is just a few minutes away from famous tourist spots such as Palawan Wildlife Rescue and Conservation Center, the Crocodile Farm, Bakers Hill, Mitra Farm, Plaza Cuartel, and Immaculate Conception Cathedral.

RLC reported a 10 percent rise in net income during its fiscal year ended September 2010 to P3.59 billion, mainly driven by higher revenues.

Revenues rose five percent to P11.3 billion, P9.45 billion came from real estate while P1.15 billion came from the hotel business, which was 11.6 percent higher than the previous year’s contribution of P1.03 billion.

Earnings per share climbed 10 percent to P1.31 from P1.19 a year earlier.