According to the stock exchange on February 20, 2019, Robinsons Land Coporation (RLC) has formed a new subsidiary, which they call as the Bonifacio Property Ventures, Inc. The report said that the Securities of Exchange Commission has already gave its approval to the incorporation of the said unit, which will be 100% owned by RLC. This firm, led by the Gokongweis, is moving towards a fruitful engagement in real estate scheme.
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This coming year, RLC is set to meet at least 1.61 million SQM gross leasable area. Addition to its existing GLA are the expanded Robinsons Magnolia in Quezon City and the newly opened Robinsons Place located in Antipolo and San Pedro Laguna.
Robinsons Land Corporation is another successful company in the industry and real estate sector. We can actually trace back its prosperity from its major establishments like the Robinsons Malls, Robinsons Supermarkets, and Robinsons Department Stores.
At present, the firm has already established different residential spaces namely The Fort Residences, Trion Towers, McKinley Park Residences and Fifth Avenue Place which are all located in Bonifacio Global City. It also manages five segments simultaneously–commercial spaces, hotels, residential projects, office establishments, and infrastructure and integrated development.
In 2018, the 3 quarters has brought the firm 43% higher attributable profit which is equivalent to P6.55 Billion if converted to figures and 31% or P21.8 Billion in revenues. If you take a look at the company’s net income from the past 5 years, the trend is consistent– from P4.47 Million in 2013 to P5.88 Million in 2017. Meanwhile, the firm’s revenue has gone up from P16.01 Million in 2013.
RLC’s chart is currently showing us that the stock is moving up in a mid term uptrend that started last April 2018 and was confirmed by a breakout from the 200 day moving average last November 2018. It’s now holding above a strong support of 22, should it stay and hold above this level, RLC’s next target price is 26.