GGRAsia – NUSTAR promoter names Aragon-GoBio as president, CEO

NUSTAR promoter names Aragon-GoBio as president, CEO

Jan 06, 2025 Newsdesk Latest News, Philippines, Top of the deck

Robinsons Land Corp, the promoter of the NUSTAR Resort & Casino, a Cebu tourism complex in the Philippines, has promoted Maria Socorro Isabelle Aragon-GoBio to the role of president and chief executive. Her appointment is effective from February 1, according to a Monday statement.

Philippines-listed Robinsons Land is controlled by privately-owned Gokongwei Group. Robinsons Land said its board approved the changes in a meeting held on Monday.

Robinsons Land stated Lance Gokongwei is to step down as the company’s president and CEO on February 1. Mr Gokongwei’s sister, Robina Gokongwei-Pe, is also departing on the same day from her post as one of the company’s directors, according to Monday’s filing to the Philippine Stock Exchange.

Mr Gokongwei had been president and CEO of Robinsons Land since January 8, 2024. He will continue to serve as the firm’s executive chairman, “providing strategic guidance to the company,” according to the announcement.

Robinsons Land’s board thanked Mr Gokongwei for his leadership during his time in office. “Under his stewardship, Robinsons Land solidified its position as a leading player in the real estate industry,” it stated.

Ms Aragon-GoBio is described as having “over 30 years of experience” in the real estate industry. She joined Robinsons Land in 1993 and “has held significant leadership roles across logistics, residential and office developments, and mixed-use estates,” according to Monday’s update.

The firm’s board said in prepared remarks: “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.”

NUSTAR Resort & Casino, which launched in May 2022, is to open a high-end new hotel under the “NUSTAR” brand.

The new hotel is described as part of the group’s subsidiary Robinsons Hotels and Resorts’ plans to invest more than PHP10 billion (US$171.5 million currently) “over the next few years” in efforts at “transforming the hospitality landscape in the Philippines”.

The NUSTAR Hotel Cebu offers 223 rooms, adding to the 379 rooms already on the site under the “Fili” hotel brand. By early 2027, a third hotel, via the Robinsons hotel brand “Grand Summit”, is expected to bring the complex’s room capacity to 985.