Robinsons Land launches fourth residential tower in Mandaluyong
Manila Standard Today
Jenniffer B. Austria
July 8, 2008


Robinsons Land Corp., the property unit of JG Summit Holdings Inc., yesterday launched its fourth residential tower at Robinsons’ Cybergate City along Pioneer, Mandaluyong.

Robinsons Land president and chief operating officer Frederick Go said the investment for Two Gateway Place was part of the P10-billion capital expenditure programmed for the year.

The 33-story residential project will have 331 units, with one or two bedrooms.

A one-bedroom unit occupies 34 square meters while two-bedroom units will fit from a range of 70 to 96 square meters.


Robinsons Land plans to sell the units at an average price of P77,000 per square meter. It aims to complete construction of Two Gateway Place by 2012.

Go said Robinsons Land implemented a 10-percent increase in the prices of the company’s residential condominium units due to higher cost of construction materials, especially cement and steel.

Go said the high cost of construction materials and possible increase in interest rates would significantly affect the growth of real estate industry.

Steel prices have doubled from their year ago levels while those of cement have gone up significantly because of increased demand.

Go said the company had secured long-term contracts with steel and cement suppliers for the company’s ongoing projects.

The six-hectare Robinsons Cybergate City is being developed as a satellite business district. The property will have 10 buildings, made up of four office buildings, one shopping mall and five residential condominiums.

There is a shopping mall, four office buildings for business process outsourcing companies and three residential towers already in place within Robinsons Cybergate City.

The three residential condominiums are One Gateway Place, Gateway Garden Ridge and Gateway Garden Heights while the BPO buildings are Cybergate Center Towers 1-2-3 and Cybergate Plaza.