RL Commercial REIT Inc. (RCR), the real estate investment trust of Robinsons Land Corp., announced that nine-month revenues jumped by 30 percent year-over-year, driven by the infusion of nine lifestyle malls into its portfolio and sustained high occupancy.
In a disclosure to the stock exchange Friday, RCR said revenues from January through September reached P7.66 billion. Third-quarter revenues rose 31 percent to P3.07 billion.
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The Securities and Exchange Commission approved the transfer of nine mall properties from RLC to RCR via a property-for-share swap on Sept. 5. Revenues and expenses for these properties were accrued to RCR effective Aug. 1, 2025. This share-swap deal represents RCR’s fourth asset infusion to date.
“The recent infusion of nine malls into RCR’s portfolio underscores our continued commitment to growing the company,” said Jericho Go, president and chief executive of RCR.
“The P30.67 billion infusion is another large-scale infusion done by RCR.”
Go noted the company benefits from the variable rent structure of its malls, which offers strong potential for revenue growth. “Since our listing in 2021, we have nearly tripled our gross leasable area and expanded our footprint from nine to 25 key locations nationwide,” he added.
The RCR board also approved a third-quarter 2025 regular cash dividend of P0.1060 per outstanding common share. The dividends will be payable on Dec. 2, 2025, to shareholders on record as of Nov. 21, 2025.
For the first three quarters of 2025, RCR has declared a total of P5.37 billion in cash dividends, equivalent to more than 90 percent of its unaudited distributable income.
REIT law mandates that REIT companies distribute at least 90 percent of distributable income to shareholders.
The acquisition of the nine malls expanded RCR’s portfolio to 38 assets. Post-infusion, RCR’s composition shifts from primarily office-focused to predominantly mall-based, enhancing income stability through a diversified mix of rental streams.
RLC maintains a pipeline of future infusions, including more than 1.1 million square meters of mall gross leasable area, over 250,000 square meters of office space, approximately 300,000 square meters of logistics space and about 4,000 hotel room keys. RCR also remains open to acquiring third-party assets as part of its long-term growth strategy.
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