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.
鈥淭he transaction reflects RLC鈥檚 disciplined capital allocation strategy and underscores its confidence in Davao鈥檚 continued economic expansion and rising investor and tenant demand,鈥 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鈥檚 third development in Davao City and will rise on the site of the former Victoria Plaza, the city鈥檚 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鈥檚 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. 鈥 Alexandria Grace C. Magno
