Robinsons Land Corp. (RLC) has announced it will acquire the 9.6-hectare Victoria Plaza complex along JP Laurel Avenue in Davao City, as part of its expansion in key regional areas. The company did not disclose the purchase price.
The property was previously bought by NCCC Group from Philippine National Bank in 2019 for about P2 billion.
RLC plans to redevelop the site into a mixed-use estate. One of its main projects is Cybergate Victoria, a multi-storey office building expected to be completed by the first half of 2027.
Victoria Plaza Davao, also known as NCCC Mall VP, is currently being demolished after closing in December last year. The mall, which opened in 1993, was the first full-scale shopping center in Davao City.
RLC said the acquisition will allow it to develop office, retail, residential, hotel, and other commercial spaces in phases. The company aims to strengthen its presence outside Metro Manila and tap into Davao’s growing economy.
The firm reported steady financial performance, with net income at P13.47 billion last year, slightly higher than P13.21 billion previously. Excluding one-time gains, income rose 9 percent year-on-year.
Revenues increased 13 percent to P48.52 billion, driven by growth across business segments. Residential sales jumped 71 percent, while its investment and development portfolios also expanded.
RLC said it remains focused on strategic growth and has allocated P18.87 billion in capital expenditures for 2025 to support ongoing and future projects.
