RL Commercial REIT Inc. (RCR), the real estate investment trust of Robinsons Land Corp. (RLC), raised its cash dividends to ₱5.37 billion after revenue jumped 30 percent in the first nine months of the year, driven by portfolio expansion.

Unaudited revenue surged to ₱7.66 billion for the nine months ended September 30, RCR said in a disclosure to the Philippine Stock Exchange. The figure, which excludes the change in the fair market value of investment properties, reflects a robust 30 percent increase from the same period last year.

The revenue growth was fueled by the recent infusion of nine lifestyle malls from RLC into RCR’s portfolio, complemented by a sustained overall occupancy rate of 96 percent. The income and expenses for these properties were accrued to RCR effective Aug. 1, 2025. This transaction marks the company'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 RCR President and CEO Jericho P. Go. “The ₱30.67-billion infusion is another large-scale infusion done by RCR.”

Go noted that the company benefits from the variable rent structure of the 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 approved a third-quarter regular cash dividend of ₱0.1060 per outstanding common share, maintaining the company’s track record of quarter-on-quarter dividend growth since its initial declaration.

For the first three quarters of 2025, RCR has declared a total of ₱5.37 billion in cash dividends, more than 90 percent of its unaudited distributable income. The third-quarter cash dividends are payable on Dec. 2, 2025, to shareholders on record as of Nov. 21, 2025.

The infusion of the nine lifestyle malls expanded RCR’s total assets from 29 (17 offices, 12 malls) to 38 (now 21 malls and 17 offices). This increased RCR’s gross leasable area (GLA) by 39 percent—from 828,000 square meters to 1.15 million sqm—and strengthened its geographical reach to 25 key locations.

Post-infusion, RCR’s portfolio strategically shifted from being primarily office-focused to predominantly mall-based, enhancing income stability through a diversified mix of fixed and variable rental streams. RLC continues to hold a robust pipeline of potential future infusions, including over 1.1 million sqm of mall GLA and more than 250,000 sqm of office GLA. RCR remains open to acquiring third-party assets as part of its long-term growth strategy.