Gokongwei-led Robinsons Land Corp. is raising ₱7 billion through a private placement of its shares in RL Commercial REIT Inc., clearing the path for further asset infusions as it seeks to triple the size of its real estate investment trust.

In a disclosure to the Philippine Stock Exchange, RLC said its board of directors has authorized the sale of a total of 945.95 million RCR common shares at ₱7.40 per share. The price represents a 5.6 percent discount from RCR’s closing price of ₱7.84 per share yesterday.

RLC said the transaction was anchored by high-quality institutional, local, and international investors. The proceeds from the block sale shall be settled on Jan. 29, 2026 under the Secondary Block Trade Agreement.

The 4.84 percent divestment by RLC will increase RCR’s public ownership to 44.18 percent from the current 39.34 percent, giving it a headroom of about 11 percent for an asset swap between the real estate investment trust and its sponsor.

This transaction follows RLC’s sale of one billion RCR shares for ₱7.75 billion in September 2025 to increase the real estate investment trust’s public float.

The shares were sold at ₱7.75 apiece, a five percent discount to the ₱8.17 closing price the day prior to the announcement.

Last year, the SEC approved RLC's infusion of nine more malls, worth ₱30.67 billion, into RCR as part of plans to triple the REIT’s size to P300 billion in three years.

The infusion of assets was completed through a property-for-share swap transaction, exchanging 3.83 billion RCR common shares priced at ₱8.00 each, which will lower RCR’s public float to 34.22 percent (from the current 42.57 percent), just above the required 33.33 percent for REITs.

Of the nine malls to be infused, seven are in Luzon, while two are in the Visayas. These are Robinsons Dasmariñas and General Trias in Cavite, Starmills in Pampanga, Malolos in Bulacan, Santiago in Isabela, Magnolia in Quezon City, as well as Robinsons Tacloban and Cybergate Cebu.

The Properties have a total gross leasable area of 324,107.75 square meters and have high occupancy rates, which are consistent with the set investment criteria of RCR. The Properties also include a diversified tenant base, which will contribute to its stable occupancy rates.

With this infusion, the portfolio size of RCR increased from approximately 827,807 sqm to approximately 1,151,915 sqm, or a growth of 39.15 percent.

It also increased the portfolio of RCR to 38 commercial real estate assets consisting of 21 mall assets and 17 office assets.

The total transaction value of the Properties at ₱30.67 billion is based on the independent property appraisal reports of AACI and supported by a third-party fairness opinion made by FTI.