Robinsons Land Corp. (RLC) is looking at opportunities to launch a real estate investment trust comprised of its malls and logistics portfolio.
Speaking to shareholders last week, RLC president Frederick Go said the company sees huge potential for its businesses, particularly its malls as it achieved pre-COVID 19 pandemic levels last year.
“Our residential joint venture projects are expected to start contributing significantly this year,” Go said.
RLC in 2021 sponsored the listing of RL Commercial REIT, which comprises the company’s office space portfolio. RL Commercial REIT is a constituent of FTSE Russell and FTSE Global Equity Index Series (GEIS) Asia Pacific Index — Small Cap. It is also included in the PSE Property Index, PSE MidCap Index and PSE Dividend Yield Index.
“The office businesses are expected to sustain its growth. While our hotels and resorts business is nicely recovering with the resurgence of travel, and the return of MICE (meeting, incentives, conferences and exhibitions) and large scale events,” he added.
For the year, the company expects to spend around P20 billion to further expand its businesses, further diversifying its portfolio, “expanding the breadth of products and introducing customer-driven innovations to deliver sustainable value,” Go said.
