RLC to turn old Medical City lot into high-end devt

Property firm Robinsons Land Corp. on Friday said it has purchased the old Medical City lot in Ortigas Center in Pasig, in order to turn it into a high-end mixed-use development. The property is a 1-hectare lot adjacent to Shangri-La Hotel and Mall, and is also surrounded by office buildings and a school. In a statement sent to the Philippine Stock Exchange, Robinsons Land said the development may comprise of a deluxe hotel, office building, residential condominiums and retail shops. The company did not disclose the purchase price for the property. “We are pleased with the recent acquisition—the strategic location is all anchored on our strategy to strengthen our presence in the heart of Ortigas Center and to complement with our very successful Galleria complex nearby," Robinsons Land high-rise buildings division director for marketing Ferdinand Adriano said. Aside from its flagship mall Robinsons Galleria, the property developer also controls Crowne Plaza Hotel, Holiday Inn Galleria Manila, Galleria Regency, Robinsons Equitable Tower, Galleria Corporate Center all in the Ortigas business district. - GMANews.TV