RL COMMERCIAL REIT, Inc. (RCR), the actual estate investment trust of Robinsons Land Corp. (RLC), said mall assets are currently a spotlight for potential future portfolio infusions, citing stronger revenue opportunities from retail properties as consumer traffic continues to enhance.
“The main focus really is on the shops immediately. Even from a market perspective, you will note that the fixed rent, percentage-of-sales leases, and improved foot traffic in our malls present a really beautiful upside by way of revenue,” RCR President and Chief Executive Officer Jericho P. Go said through the company’s media briefing on May 13.
“And since we still have a considerable amount of mall assets by way of scale, I believe that could be a superb focus for the portfolio,” he added.
RCR’s portfolio reached 38 assets by end-2025 after the addition of nine mall properties from parent Robinsons Land Corp. through a tax-free property-for-share swap.
The transaction increased gross leasable area (GLA) to 1.15 million square meters (sq.m.), about 2.7 times its size at listing.
Mr. Go said the corporate may additionally consider other asset classes in the longer term, depending on market conditions.
Malls accounted for 53% of RCR’s total gross leasable area, while office assets made up 47%.
RCR’s portfolio now consists of 38 assets, comprising 21 malls and 17 office properties across 25 locations nationwide.
The corporate said in an earlier disclosure that it’s positioned to further expand its portfolio through potential asset infusions from sponsor RLC, which include greater than 1.7 million sq.m. of combined mall, office, and logistics GLA, in addition to about 4,000 hotel room keys.
RCR added that it stays open to acquiring third-party assets as a part of its long-term growth strategy.
For the primary quarter, RCR’s net income rose 41% to P2.4 billion, excluding fair value adjustments, driven by the 2025 asset infusions and sustained occupancy of 96%.
Unaudited January-to-March revenue reached P3.4 billion, up 51% from the identical period last 12 months, excluding changes within the fair value of investment properties. — Alexandria Grace C. Magno