Robinsons Land Corporation (RLC) said it will continue all planned developments despite higher construction costs caused by geopolitical tensions in the Middle East, signaling confidence in its long-term growth strategy and financial position.
RLC president and CEO Maria Socorro Isabelle V. Aragon-GoBio said the company reviewed which projects could be accelerated or delayed, but ultimately decided to proceed with its full development pipeline under its “Vision 5-25-50” strategy, which targets P25 billion in net income by 2030, the company’s 50th anniversary.
The company acknowledged that construction costs have risen by around 25 to 30 percent since the conflict escalated, but said earlier budget discipline and contract planning gave it enough financial flexibility to stay on track.
The decision highlights RLC’s effort to maintain investor confidence and preserve growth momentum at a time when many developers are reassessing expansion plans due to inflation and global uncertainty.
RLC reported strong first-quarter earnings, with net income rising 9 percent to P4.4 billion and revenues increasing 11 percent to P12.28 billion, driven by growth across its malls, offices, hotels, and residential businesses.
Its residential segment led growth, with revenues jumping 39 percent to P2.7 billion due to faster construction progress and higher revenue recognition. The company also generated P3.74 billion in net sales, largely from joint venture projects.
