RCR revenues jump 30% on mall infusion
RCR’s (RL Commercial REIT Inc.) portfolio has expanded from 29 to 38 assets, shifting its mix to 21 malls and 17 offices and increasing gross leasable area by 39 percent to 1.15 million sqm across 25 key locations nationwide.
Photograph courtesy of JG Summit Holdings Inc.
RL (Robinsons Land) Commercial REIT Inc. (RCR) has reported P7.66 billion in unaudited revenues for the first nine months of 2025, up 30 percent from a year earlier, following the large-scale infusion of nine lifestyle malls into its portfolio and a sustained 96 percent occupancy rate.
Third-quarter revenues rose to P3.07 billion, a 31 percent quarter-on-quarter increase after the SEC-approved property-for-share swap with its sponsor Robinsons Land Corp. took effect on 1 August.
RCR remains debt-free
RCR reported that it remains debt-free, with unaudited total assets of P145.71 billion and shareholders’ equity of P140.64 billion.
“The recent infusion of nine malls into RCR’s portfolio underscores our continued commitment to growing the company. The P30.67-billion infusion is another large-scale infusion done by RCR,” said president and CEO Jericho P. Go.
He added that the malls’ variable rent structure “presents strong potential for revenue growth,” noting that RCR has nearly tripled its gross leasable area since its 2021 listing.
Q3 cash dividend
The board approved a P0.1060 regular cash dividend per share for the third quarter, payable on 2 December to shareholders of record as of 21 November.
Total dividends declared for the first nine months reached P5.37 billion, or more than 90 percent of unaudited distributable income in line with REIT law requirements.
The latest infusion expands RCR’s portfolio from 29 to 38 assets, shifting its mix to 21 malls and 17 offices and increasing gross leasable area by 39 percent to 1.15 million sqm across 25 key locations nationwide.
Pipeline of potential future infusions
RLC continues to hold a pipeline of potential future infusions, including over 1.1 million sqm of mall space, 250,000 sqm of offices, 300,000 sqm of logistics assets, and around 4,000 hotel rooms. RCR also remains open to acquiring third-party assets.
As of 30 September, RCR’s market capitalization stood at P141.92 billion, reflecting a share price of P7.26 and the issuance of 3.83 billion new shares tied to the recent mall infusion.