Robinsons Land Corp. expects to increase its real estate portfolio this year as it completes and opens pipeline projects this year.
A copy of the presentation at Robinsons Land’s analyst briefing on March 7 showed that its mall portfolio will expand to 1.71 million square meters (sq.m.) from end-2024’s 1.68 million sq.m. or by 2percent.
Set to open are Robinsons Pagadian and Bagong Silang Town Square as well as the expansion of Robinsons Bacolod and Robinsons Manila.
The Gokongwei-controlled developer also expects its office space portfolio under Robinsons Offices to increase by 12 percent to 885,000 sq.m. from last year’s 793,000 sq.m.
The company is opening this year its GBF2 office building in Quezon City and Cybergate Iloilo Tower 3 in Iloilo province.
Meanwhile, the Robinsons Logistics and Industrial Facilities (RLX) business is also opening RLX Taytay 2 and RLX Calamba 2E, expanding the logistics portfolio by 12 percent to 328,000 sq.m. from 294,000 sq.m. at the end of 2024.
In addition, Robinsons Land is set to formally open its 223-key NUSTAR Hotel in Cebu to ramp up its hotel rooms under Robinsons Hotels and Resorts to 4,466 keys, up 5 percent from 4,243 keys in end-2024. NUSTAR had a soft opening in December last year.
Robinsons Land on March 7 reported that it closed 2024 with a net attributable profit of P13.21 billion, up 9.5 percent from P12.06 billion the prior year.
Revenue grew by 2.05 percent at P42.88 billion compared to P42.02 billion the previous year.
“The investment portfolio remained a key growth driver, with revenues increasing 14 percent to P32.83 billion, led by malls, followed by offices, hotels, and logistics,” the company said in a statement.
It said the development portfolio recorded P10.06 billion in realized revenues, supported by residential revenue recognition, deferred land sales and contributions from joint ventures.
Robinsons Malls posted a 10.79 percent increase in revenue at P17.96 billion compared to P16.21 billion in 2023.
This was supported by higher tenant sales, increased foot traffic and continuous improvements in offerings in its 55 malls nationwide, with rental revenues up 9.48 percent to P12.58 billion from P11.49 billion, the company said.
Robinsons Offices grew revenues by 8.02 percent to P7.95 billion from P7.36 billion, supported by rental growth across its 32 office developments. Occupancy was at 86 percent.
Robinsons Hotels and Resorts reported a 31.58 percent increase in revenue at P6 billion from P4.56 billion the prior year.
“This was driven by strong performance across all brands, particularly international partnerships and Fili Hotel, our own Filipino branded 5-star hotel coupled with strong F&B which contributed 38 percent of total revenues,” the company said.
RLX posted a 33.33 percent increase in revenue to P916 million from P687 million, supported by sustained demand for industrial and warehouse spaces.
In 2024, RLX expanded its portfolio with the completion of three new warehouses—RLX Sierra 2 in Sierra Valley Estate, RLX Calamba 2 C&D and RLX San Fernando 2—increasing its portfolio to 12 industrial facilities across key locations in Metro Manila, Pampanga and Laguna.
Robinsons Destination Estate recorded property development revenues of P1.27 billion for the full year from the deferred sale of parcels of land to joint venture entities.
RLC Residences saw revenues drop by 26.89 percent to P8.78 billion, including P2.63 billion from equity share in joint venture projects, from P12.01 billion the prior year.
“Our strong performance in 2024 reflects Robinsons Land’s resilience and strategic focus on sustainable growth. Despite headwinds, we remained agile, leveraging our diverse portfolio and strong balance sheet to drive profitability,” said Mybelle Aragon-GoBio, Robinsons Land chief executive officer.
“Our investment portfolio continues to be a key growth driver, while we take a more disciplined and strategic approach to our development portfolio, ensuring efficient capital allocation and maximization of returns. As we move forward, we remain committed to creating sustained value for our stakeholders through disciplined execution and innovation,” she added.
