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Manila Bulletin devider Business devider The Stock Market devider Robinsons Land REIT profit jumps 44% on asset infusions

Robinsons Land REIT profit jumps 44% on asset infusions

Published Aug 11, 2026 04:13 pm
RL Commercial REIT Inc. (RCR), the real estate investment trust sponsored by Robinsons Land Corp., recorded a 44 percent increase in net income to ₱4.95 billion for the first half of the year, driven by continuous asset additions and high tenancy across its commercial portfolio.
In a disclosure to the Philippine Stock Exchange, RCR said the profit figure, which excludes changes in the fair market value of investment properties, was supported by a 50 percent expansion in unaudited revenues to ₱6.9 billion during the six-month period.
For the second quarter, the commercial property trust generated ₱3.5 billion in unaudited top-line revenue, a 50 percent gain compared to the same period in 2025. Unaudited second-quarter net income, excluding property revaluation adjustments, climbed 46 percent year-on-year to ₱2.55 billion.
“RCR continues to benefit from the strong performance of its assets. The 2025 mall infusions have already contributed positively to performance,” RCR Chief Executive Officer Jericho P. Go said.
The trust maintained a conservative capital structure, ending the first half with zero debt. Unaudited total assets stood at ₱170.37 billion as of June 30, while total shareholders' equity reached ₱162.64 billion.
Earnings momentum is set to receive further support in the second half following regulatory clearance for its latest property acquisition. On July 15, the Securities and Exchange Commission approved a property-for-share swap between parent entity Robinsons Land and RCR involving six shopping centers valued at approximately ₱10.62 billion.
In exchange, the REIT issued roughly 1.29 billion common shares on July 16. The company is currently completing the asset transfers and secondary listing of the new shares.
Revenues generated by the six newly acquired malls will accrue to RCR starting July 1, with financial contributions scheduled to appear in the third-quarter operational results.
Go noted that full revenue recognition from these properties will provide an additional lift to bottom-line performance and overall shareholder value creation.
Reflecting the higher cash flow, the board approved a second-quarter regular cash dividend of ₱0.1117 per outstanding common share. The payout totals an estimated ₱2.33 billion, representing more than 90 percent of unaudited distributable income for the quarter.
Total dividend declarations for the first six months reached ₱4.51 billion, continuing a pattern of quarter-on-quarter growth in payout per share since the firm's initial public offering.
The second-quarter dividend will be distributed on Sept. 2 to shareholders registered as of Aug. 26.

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RL Commercial REIT Inc. Robinsons Land Corporation Jericho P. Go
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