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    INVESTORS' CENTER - Year Ended September 30, 2004
    Financial Highlights     Hotels Division
    Message to the Stockholders     Board of Directors
    Commercial Centers Division     Management Team
    High-Rise Buildings Division     Downloads
    Housing & Land Dev. Division
     
    High-Rise Buildings Division
   
The High-Rise Buildings Division is primarily responsible for the development and marketing of affordable residential condominium buildings as well as premium office buildings.

The Company’s portfolio of completed office buildings include the Galleria Corporate Center and Robinsons-Equitable Tower in Ortigas, and the RobinsonsSummit Center in Makati.The High-Rise Buildings Division is primarily responsible for the development and marketing of affordable residential condominium buildings as well as premium office buildings.

The Division has a steady rental revenue base from the ownership of approximately 47,850 square meters of space it retained in the aforementioned buildings. Its holdings will be augmented by the scheduled completion of the first of two buildings of the Robinsons Cybergate Center, which is located within the Robinsons Pioneer-Gateway Complex. The two office buildings are being built to cater to the growing call center and business process outsourcing industry.

The Division has three (3) completed residential condominium projects, the Galleria Regency in Quezon City and the twin-tower Robinsons Place Residences in Manila, as well as four (4) on-going residential condominium projects, Fifth Avenue Place in the Bonifacio Global city, One Adriatico Place and Two Adriatico Place in Manila, and One Gateway Place in Mandaluyong City.

Marketing efforts are further being intensified with its entry into the overseas market. Inspired by the confidence from a successful roadshow last year, the Division will be taking major steps to tap even more cities across the globe.