Robinsons Land Corp. (RLC), the property unit of Gokongwei flagship holding firm JG Summit Holdings Inc., has just acquired a 9,118-square meter lot in Fort Bonifacio Global City — its fourth property within the former military complex.

RLC president Frederick Go said: "The newest acquisition reflects our continued confidence in the Global City, the real estate industry and the Philippine economy as well."

Go said the property, located along the millionaire’s row at the corner of Mckinley Drive and Fifth Avenue, will be developed into an upscale twin tower residential project.

He said the company is now drawing up the overall master plan for the project which it intends to develop in the latter part of the year.

RLC has been aggressively beefing up its presence in Fort Bonifacio through acquisition of properties.

Other properties within the Global City are the two sold projects — the 38-story Fifth Avenue Place and the 43-story Mckinley Park Residences, and the recently-launched The Fort Residences.

RLC has earmarked around P15 billion in the next two years for the development of new malls, office buildings, and housing projects, and acquisition of new properties. About 40 percent of the programmed capital budget will be used to build new malls in Dumaguete, Bulacan, Paco in Manila, Tagaytay and Davao as well as to refurbish existing shopping centers in Ermita, Manila and Bacolod.

RLC said 30 percent of the budget will go to the establishment of new office buildings catering to business process outsourcing firms. RLC is currently constructing seven residential condominium buildings, namely Fifth Avenue Place and McKinley Park Residences in Fort Bonifacio Global City, Gateway Garden Ridge and One Gateway Place in Robinsons Pioneer Complex, One Adriatico Place, Two Adriatico Place, and Otis 888 Residences in Manila; and two office buildings Robinsons Cybergate 2 and Robinsons Cybergate 3.

As for its mall expansion, RLC is redeveloping a portion of Robinsons Galleria mall, called West Wing, which is expected to be completed before the end of the year. It is also expanding Robinsons Place Manila by constructing The Midtown Wing and constructing Robinsons Place Otis 888, a strip mall fronting its residential development project in Paco, Manila.