RLC to build mixed-use project on 9-hectare Davao site
GOKONGWEI-LED Robinsons Land Corp. (RLC) is acquiring the approximately nine-hectare Victoria Plaza complex along JP Laurel Avenue in Davao City as part of its expansion in regional markets.
“The transaction reflects RLC’s disciplined capital allocation strategy and underscores its confidence in Davao’s continued economic expansion and rising investor and tenant demand,” the company said in a statement on Tuesday.
RLC said the acquisition will allow it to pursue phased, large-scale developments across office, retail, residential, hotel, and other commercial segments.
The company added that the move will help it secure scale and strategic locations in a high-growth market, support demand, diversify income streams, and expand its presence outside Metro Manila.
The site is expected to host a multi-storey office development, Cybergate Victoria, which is scheduled for completion in the first half of 2027.
Cybergate Victoria 1 will be the company’s third development in Davao City and will rise on the site of the former Victoria Plaza, the city’s first shopping mall.
The project will include nine premium office floors with retail spaces and recruitment centers, targeting business process outsourcing firms, information technology and business process management companies, corporate offices, and other enterprises.
RLC’s office unit, Robinsons Offices, has been expanding outside Metro Manila, with projects in Dumaguete and Davao following the launch of Cybergate Iloilo.
At the local bourse on Tuesday, shares in RLC rose 1.29% to close at P17.30 each. — Alexandria Grace C. Magno
You May Also Like
Binance Perpetual Futures Revolution: QQQ and Major US Stocks Enter Crypto Derivatives Market with 10x Leverage
Franklin Templeton CEO Dismisses 50bps Rate Cut Ahead FOMC
Gold Spot Volume on Binance Surges to $80M as Demand Extends Beyond Futures
