RL Commercial REIT Inc (RCR), the real estate investment trust of Gokongwei-owned Robinsons Land Corp, was named the Best REIT in the Philippines by The Asset Triple A Sustainable Capital Markets Country & Regional Awards.
In its three-year investment plan, RCR said its predominant focus is on Grade A commercial assets situated in prime central business districts in Metro Manila as well as major regional commercial hubs.
Its initial portfolio consists of fourteen high quality assets including Robinsons Cybergate Center 2 and Robinsons Cybergate Center 3 in Mandaluyong City.
In 2021, Robinsons Land Corp. further strengthened its competitive position with the landmark listing of RCR in the Philippine Stock Exchange. At listing, RCR is the Philippines’ largest REIT in market capitalization, portfolio valuation, and asset size.
On account of its successful strategic initiatives and the recent REIT IPO, RLC’s financial position is as strong as it has ever been.
Including proceeds from the IPO, cash and cash equivalents stood at P18.65 billion as of December 31, 2021 and net gearing ratio is at a record-low of 0.23 times. Total assets were valued at P227.89 billion, while shareholders’ equity ended at P130.35 billion.