RL Commercial REIT, Inc. (RCR), the real estate investment trust (REIT) of Gokongwei-led property developer Robinsons Land Corp. (RLC), is confident of tripling the size of its current assets over the next few years, a top ex-ecutive said.
“Actually, when you look at the sponsor’s assets, the current assets that are in RCR right now from the sponsors [are] just one-third of the sponsors’ assets,” RCR Treasurer Kerwin Max Tan told reporters last week.
“Potentially, RCR can grow two-thirds of the assets of the sponsor. So, it’s basically three times more of the current assets,” he added.
As of end-March 2025, RCR’s total assets stood at P114.06 billion. Shareholders’ equity was at P109.48 billion.
Tan said the asset growth, which could potentially happen in the next few years, would depend on market condi-tions and other factors.
With a growing gross leasable area (GLA) of 828,000 square meters (sqm), RCR operates across 18 strategic cit-ies nationwide, comprising 17 office assets and 12 mall properties.
The current GLA includes 539,000 sqm of office space and 289,000 sqm of retail mall space.
RCR’s sponsor, Robinsons Land, continues to provide robust growth potential with more than 1.3 million sqm of malls, 250,000 sqm of offices, 300,000 sqm of logistics facilities, and approximately 4,000 hotel keys available for potential infusion.
With strategic acquisitions and future infusions on the horizon, RCR said it remained well-positioned to deliver sustainable returns and strengthen its foothold as a premier REIT player in the Philippines.
Last week, the company’s board approved the declaration of a regular cash dividend of P0.1047 per common share for the first quarter of 2025 for a total dividend payout of P1.65 billion, which represents more than 90 percent of the company’s unaudited distributable income.
The dividends will be paid on May 30, 2025 to stockholders on record as of May 20, 2025.
For the first three months of 2025, RCR posted revenues of P2.25 billion, up 58 percent year on year and attribut-ed primarily to the infusion of 13 new properties and consistently high occupancy rates of 96 percent.
RCR shares closed 9 centavos, or 1.39 percent, higher on Friday at P6.58 apiece.