RL Commercial REIT Inc. (RCR), the Gokongwei group’s real estate investment trust, is still open to acquiring properties from outside parties—though deals will depend on price, asset quality, management standards, and tenant mix, according to president and CEO Jericho P. Go. Unlike third-party assets, properties from sponsor Robinsons Land Corp. (RLC) come with known quality and performance history, helping RCR sustain a combined 96 percent occupancy rate for offices and malls.
RLC, which holds over 800 hectares of land (smaller than many peers), still has plenty of assets to transfer to RCR. Current holdings include more than 1.1 million square meters of mall space and 250,000 square meters of offices; logistics and hotel assets have not yet been added but are possible in the future. RCR’s growth relies heavily on RLC’s strong track record.
For now, RCR will focus on adding more malls from its sponsor, even though offices contribute more to revenue. The current mix is 53 percent malls and 47 percent offices, but malls will eventually make up a larger share since they form a bigger part of RLC’s business. By 2030, RLC plans to increase mall space available for infusion by 50 percent (to 2.4 million sqm), office space by 50 percent (to 1.2 million sqm), double logistics assets, and expand hotel room keys by 25 percent.
This strategy balances growth flexibility—through possible external buys—with low-risk expansion via its sponsor’s pipeline. It sets a clear, long-term growth path anchored on reliable assets, ensuring steady income and sustained high occupancy, while positioning RCR to diversify into logistics and hotels over time. For investors and the market, this signals disciplined expansion and strong backing from a well-established developer.
