Robinsons Land Acquires Land Use Right in Chengdu, China

Pasig—(PHStocks)—Robinsons Land Corp. (PSE: RLC), through an offshore subsidiary and in the ordinary course of its business, has acquired the land use right to an 8.5-hectare property located in Chengdu, China.

The property is intended to be used for the development of residential projects with a minor commercial component. This acquisition is in line with the normal course of RLC’s real estate business and its plan to explore opportunities internationally.