RLC Residences, the residential arm of Gokongwei-led Robinsons Land Corp. (RLC), is pushing ahead with construction of its MIRA condominium project in Barangay San Roque, Quezon City, with the first two towers slated for completion in 2031.

"With MIRA, we are completing the residential complex of RLC in this part of Quezon City. Construction activities are in full swing and soon, MIRA will bring more life here in Barangay San Roque, a community just a stone's throw away from the famous Araneta, Cubao," Emmanuel Arce, vice-president for project management at RLC Residences, said in a statement sent to BusinessWorld on Thursday.

MIRA is a four-tower condominium development located along Mirasol Street in Quezon City. According to information on the developer's website, the project is currently in its preselling phase, with unit prices ranging from P6.3 million to P17.6 million. The development sits near several commercial establishments, including SM Cubao, Gateway Mall, Farmers Market, Farmers Plaza, and Ali Mall. The location places the project within the Araneta City area, a long-established commercial and transit hub in Quezon City that has drawn renewed residential and retail development in recent years.

Two of the project's towers have already been launched: Tower 1 was introduced in April 2024 and Tower 2 in July 2024. Tower 1 is targeted for completion in February 2031, while Tower 2 is scheduled to be finished in June 2031. The roughly six-to-seven-year gap between launch and completion is consistent with the typical timeline for high-rise condominium projects in Metro Manila, where buyers in the preselling phase commonly purchase units while construction is still under way.

In terms of unit sizes, MIRA's studio units measure about 26.5 square meters (sq.m.), while one-bedroom units with balconies offer up to 40.5 sq.m. of floor area. Two-bedroom units measure 53 sq.m., with balcony configurations offering up to 78 sq.m.

"This project is a testament to our commitment to provide Filipinos a home within reach of life's opportunities, and at the same time, a home where they can have an enriched and fulfilling lifestyle," Mr. Arce said.

RLC Residences said MIRA stands to benefit from major transportation projects under development in the area, including the Metro Rail Transit Line 7 (MRT-7) and the Metro Manila Subway. MRT-7 is a 23-kilometer elevated railway planned to run from Quezon City to San Jose del Monte, Bulacan, while the Metro Manila Subway, the country's first underground rail line, is planned to include stations in Quezon City as part of its route.

RLC reported attributable net income of P3.7 billion in the second quarter of 2026, up 8% from a year earlier, which the company attributed to strong operating performance and lower financing costs. For the three months ended June, consolidated revenue rose 9% year on year to P13.1 billion, while total net income increased 15% to P4.6 billion.

For the first half of the year, RLC's residential segment posted P5.81 billion in revenue, which the company credited to higher construction progress and revenue recognition from residential developments. As of end-June, RLC had total assets of P280.7 billion.

On Thursday, RLC shares rose 32 centavos, or 1.87%, to close at P17.46 apiece. — Juliana Chloe A. Gonzales