It marked yet another milestone on Sept. 29 with the opening of GBF Center 2, a 30-storey office tower that showcases the next generation of premium working spaces for RLC’s tenants.
It’s a sequel of sorts to the similarly-sized GBF Center 1, adding about 60,000 square meters of premium office space.
Sustainable expansion returns to office sector
RLC president and CEO Ma. Socorro Isabelle “Mybelle” V. Aragon-Gobio said demand in the office market is now going beyond tenants shifting to upgraded buildings, a trend often described as flight to quality.
“It’s no longer, say, letting go of one space for a better space,” she told reporters on the sidelines of the launch of GBF Center 2, which comes two years after the opening of GBF Center 1.
“We’re also seeing real expansion,” she added.
Multinationals moving into Bridgetown
Office spaces are filling up in their second tower, with more than half the building already pre-leased, said RLC senior vice president and Robinsons Offices general manager Jericho P. Go.
Go said he was excited about the new wave of businesses moving to Bridgetowne, following strong take-up at the first tower, whose tenants include multinationals such as Thermo Fisher and Cigna Healthcare.
Of course, providing more premium offices is key to attracting and retaining talent, a goal the new towers are designed to showcase.
Go is especially proud of the tower’s technology features, such as touchless systems including facial recognition turnstiles and destination-oriented lifts.
He also highlighted the welcoming lobby, with stone floors, high ceilings, and subtle, elegant lighting accents.
Last February, GBF Centers 1 and 2 earned a rare LEED v4 Gold distinction, making them the largest office project in the Philippines to achieve the certification.
Tapping demand, not speculation
He noted that office demand is picking up and RLC intends to pursue expansion moves where there is clear demand.
This includes choosing the right location.
In the case of Bridgetowne, the estate sits along C5, Ortigas Avenue, and Amang Rodriguez Avenue, offering important visibility and mass transit options.
“We are very demand-driven, so we look at and we listen to what the market has need for, and then we supply that,” Go said.
“Because we also want to be conscious about capital expenditures. We just don’t want to speculate, we want to make sure that there’s a demand for space,” he added.
RLC’s 2030 vision on track
Aragon-Gobio said new office projects are already contributing more to Robinsons Land’s growth, following the recent rollout of its Vision 5-25-50 plan.
The strategy involves nearly doubling profit to P25 billion by 2030 through recurring income, high-growth investments and entering more premium segments.
“An integral part of that is really the expansion of our recurring business, one of which is the office business,” Aragon-Gobio said.
“So we set out a 50 percent growth pipeline for the offices, and we are very glad to note that, of course, we’re seeing now real growth in the office segment,” she added.
Miguel R. Camus has been a reporter covering various domestic business topics since 2009.
