Robinsons Land Infuses 6 Malls into REIT in P10.62 Billion Deal
Robinsons Land Corp. (RLC), a leading Philippine real estate developer, is transferring six of its mall assets, totaling over 160,000 square meters, to its real estate investment trust (REIT), RL Commercial REIT Inc. (RCR), in a property-for-share swap valued at P10.62 billion. This move is expected to further expand RCR's portfolio and enhance its presence in the Philippine retail market.
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Robinsons Land Corp. (RLC) will inject six mall assets totaling 160,269 square meters of gross leasable area into its subsidiary RL Commercial REIT (RCR) via a P10.6-billion property-for-share swap. This move expands RCR's portfolio and enhances its retail segment exposure outside Metro Manila.