Robinsons Land Corporation (RLC) will welcome its first-ever female chief executive in February. The property giant has confirmed that Ma. Socorro Isabelle Aragon-GoBio will take the helm as president and CEO, succeeding Lance Gokongwei.
Gokongwei, who also chairs the board of RLC’s parent company, JG Summit Holdings, will continue as chair of RLC. The leadership shake-up marks a significant shift for the company as it faces a “new chapter of growth” amidst challenges in the Philippine real estate market.
GoBio’s promotion comes after a long tenure with the firm. Having joined RLC back in 1993, she has spent three decades rising through the ranks, holding key leadership roles across logistics, residential, and office developments. Her contributions include spearheading some of RLC’s most ambitious projects, such as Bridgetowne in Pasig and Quezon City, Sierra Valley in Rizal, and Montclair in Pampanga.
In a statement, the board praised GoBio’s capabilities:
“Ms Aragon-GoBio brings with her a wealth of experience, deep industry expertise and a forward-thinking vision that will drive Robinsons Land Corp. into a new chapter of growth and innovation. Her steadfast commitment to operational excellence, customer-centricity, agile approach and sustainable development will undoubtedly strengthen RLC’s market leadership and create long-term value for all stakeholders.”
GoBio’s appointment also signals RLC’s focus on its logistics and industrial portfolio, a sector she has heavily influenced. As president and CEO of Robinsons Logistix and Industrials Inc., she was instrumental in establishing logistics facilities as a vital part of RLC’s business strategy.
Despite her impressive credentials, GoBio takes on the top job at a challenging time for the property sector. The real estate market in Metro Manila is currently grappling with an oversupply of residential units. According to a recent report by Colliers Philippines, it could take nearly six years to clear the backlog of unsold properties in the capital region.
RLC has already felt the pinch, with earnings from its residential business falling by 23.5% in the first nine months of 2024 to P6.46 billion, driven by weaker demand from the middle-income segment.
Still, the company remains optimistic. RLC highlighted GoBio’s track record in delivering results, particularly during her time leading its high-rise buildings division, where she drove significant revenue growth through condominium and office developments.
The board’s statement underscored this confidence:
“Her appointment reflects RLC’s commitment to leadership excellence and innovation in the real estate industry.”
GoBio’s academic background adds further weight to her credentials. She holds a bachelor’s degree in management engineering from Ateneo de Manila University and completed a minor in international business at the University of Antwerp in Belgium.