RL Commercial REIT, Inc. (RCR), the Philippines’ largest REIT in geographical reach, has reported an impressive unaudited revenue of PHP2.25 billion for the first quarter of 2025, reflecting a strong 58% year-on-year growth.
This performance was driven by the infusion of 13 properties and sustained occupancy rates of 96%.
RCR remains robust financially, with total assets amounting to PHP114.06 billion (unaudited) and shareholders’ equity of PHP109.48 billion (unaudited).
Notably, the company continues to operate debt-free. “RCR continues to reap the benefits of its massive asset infusion last year. In addition, RLC’s recent overnight block placement of its RCR shares, amounting to PHP6.21 billion, paves the way for RCR to expand its portfolio,” said Jericho P. Go, President and CEO of RCR.
1Q 2025 Regular Cash Dividends Declared
The RCR Board has approved the declaration of its Q1 2025 regular cash dividend amounting to PHP0.1047 per outstanding common share.
This brings the total declared cash dividends to PHP1.65 billion, representing more than 90% of its distributable income (unaudited).
The dividends will be payable on 30 May 2025 to stockholders on record as of 20 May 2025, in line with RCR’s dividend policy to distribute at least 90% of its distributable income, as mandated by the REIT Law.
Continued Growth and Market Capitalization Increase
RCR’s Gross Leasable Area (GLA) has grown significantly by 72%, from 480,000 sqm (pre-infusion) to 828,000 sqm, comprising 539,000 sqm of office spaces and 289,000 sqm of mall spaces.
The company now operates 29 assets across 18 key cities in the Philippines, including 17 office assets and 12 mall assets.
The sponsor, Robinsons Land Corporation (RLC), still holds over 1.3 million sqm of mall GLA, more than 250,000 sqm of office GLA, nearly 300,000 sqm of logistics GLA, and approximately 4,000 hotel room keys that may be infused into RCR in the future.
RCR is also actively exploring potential acquisitions from third parties. As of April 30, 2025, RCR’s market capitalization stands at PHP102.14 billion, based on a closing share price of PHP6.50.
RCR is a Robinsons Land Company and the largest REIT in the Philippines in terms of geographical reach, with a diversified portfolio of office and mall spaces across key cities.
