Robinsons Offices continues to develop best-in-class office projects that contribute to nation- building amidst the ongoing pandemic.
It offers safe and innovative business spaces that are registered with the Philippine Economic Zone Authority (PEZA), making it the preferred address of Business Process Outsourcing (BPO) firms and multinational companies. This encourages the continuous expansion of BPO companies in the Philippines, stimulating job creation and overall economic recovery. Robinsons Offices is also expanding its geographical presence to create vibrant opportunities in the provinces and other urban areas. By diversifying its reach, the Company hopes to help decongest dense metropolitan areas and bring inclusive growth to the countryside.
The Philippine office property segment demonstrated its resilience and agility in the face of unprecedented challenges. It sustained its positive performance and continued to attract demand from the Business Process Outsourcing (BPO) industry, which was marked by the government as an essential sector throughout the pandemic. Against this encouraging backdrop, RLC pursued its flagship real estate investment trust (REIT), infusing 14 of its office developments into a pure play Office REIT.
RL Commercial REIT Inc. or RCR made its landmark debut on the local bourse in September 2021. At listing, RCR was the Philippines’ largest publicly-listed REIT with the largest portfolio valuation at Php73.9 billion and the biggest asset size of 425,315 square meters of Gross Leasable Area (GLA).
With 14 assets strategically located in 9 cities, RCR also boasts of the widest and most extensive geographical coverage. Over 94% of its initial portfolio is spread across the central business districts (CBD) of Makati, BGC and Ortigas, while others are present in key cities of Metro Manila such as Mandaluyong and Quezon City, as well as in high-growth commercial hubs in Metro Cebu, Metro Davao, Naga, and Tarlac.
Many of RCR’s assets have land leases of as long as 99 years, bringing the portfolio to an 89- year average land lease. This cements RCR’s position as the REIT with the longest land lease tenure. Strong relationships with tenants have resulted in long-term leases and high occupancy rates across its office developments.
RCR is committed to grow the company organically and through infusion of dividend yield- accretive assets from its Sponsor, RLC, or from third-party acquisitions.
In 2021, amid the ongoing fight against COVID-19, Robinsons Offices introduced technological innovations and deployed various contactless health and safety features to protect the welfare of its tenants. Hybrid metal detectors with built in thermal scanners, infrared-activated alcohol, and soap dispensers are some of the fixtures present within its buildings. In addition, air quality within leased premises are monitored by consultants to ensure that an ideal air flow rate is maintained.
Alongside this, Robinsons Offices invested in certifying its office developments as green buildings. A number of its recently completed offices have been certified by the US Green Building Council for Leadership in Energy and Environmental Design (LEED). These include Tera Tower (LEED Gold), Exxa Tower (LEED Silver), Zeta Tower (LEED Silver) and Giga Tower (LEED Gold).
As a result, Robinsons Offices continued to attract quality tenants while retaining existing lessees and catering to their expansion requirements. This year, the Philippines’ largest telco-neutral data center operator leased the Company’s 18,500-square meter office building situated within RLC’s Bridgetowne Destination Estate.
Robinsons Offices capped 2021 with a total of 28 prime office developments, following the completion of three (3) office buildings, namely: Bridgetowne East Campus 1 in Quezon City, Cyber Omega in the Ortigas Central Business District and Cybergate Iloilo Tower 1 in Iloilo City. These projects increased leasable area by approximately 75,000 square meters, bringing the total office portfolio to 688,000 square meters. This translates to a growth of 12% in leasable area versus the same period last year. These 28 prime office developments offer convenient access to major transportation modes and hubs, and are in close proximity to lifestyle centers, residential developments, hotels, and other commercial, residential and civic establishments. Target clients for these projects are Offshoring and Outsourcing companies, as well as traditional and multinational companies looking for modern work spaces with large floor plates, efficient and modern facilities, and PEZA Accreditation.
Furthermore, the Company continues to provide flexible workspace solutions under its own brand, work.able. The homegrown concept addresses workplace challenges in the new normal with the right blend of well-designed, easy-on-the-pocket, and flexible office options. In November 2021, work.able secured a build-to-suit contract for its 6th branch, which will offer over 100 serviced- office seats within its Cyber Omega office development.
In 2022, Robinsons Offices is looking to add new inventory of office spaces through Cybergate Galleria Cebu located within the Robinsons Galleria Cebu complex, Cybergate Bacolod 2 within the Robinsons Place Bacolod complex, and Cybergate Iloilo Tower 2 within the Robinsons Place Pavia complex.
Robinsons Offices strives to be the country’s preferred office developer as it integrates industry best practices and digital solutions aimed at creating safe, healthy, and efficient work spaces. It is committed to supporting the country’s economic resurgence through quality office developments spread across Central Business Districts, transit-oriented mixed-use developments, Destination Estates, as well as key cities and urban areas in the provinces.