Robinsons Land Corp. (RLC) is eyeing a bigger asset-recycling program through RL Commercial REIT Inc. (RCR), with more malls and offices available for potential infusion as the property developer shifts toward recurring income.
Kerwin Tan, RLC chief financial, risk and compliance officer, said at the PSE STAR Investor Day that only about 44 percent of the company’s malls have been transferred to RCR, while around 40 percent of its office portfolio remains available for potential infusion.
“We still have a lot of malls that can be infused in the company,” Tan said, adding that RLC plans to replenish assets transferred to RCR as part of its continuing capital-recycling strategy.
Logistics could also become the next asset class considered for RCR, although Tan said the timing would depend on market conditions. He described the segment as being in its early stages, with attractive economics and potential to generate strong recurring income.
RLC is targeting investment properties to account for about 80 percent of its portfolio within the next two years, up from roughly 70 percent currently.
By 2030, the company expects its mall portfolio to reach about 2.4 million square meters of gross leasable area, while its office portfolio is targeted at 600,000 square meters. RLC also plans to double its logistics footprint.
“We believe that recurring is the way to go,” Tan said, as the company prioritizes malls, offices, and logistics while retaining residential developments to complement its mixed-use estates.
The strategy comes as RLC reported a 10 percent increase in first-half 2026 revenue to P25.42 billion and a 12 percent rise in net income to P9.02 billion.
The stronger results give RLC additional capacity to recycle capital from mature properties while continuing to build assets that can generate stable, recurring income.
