Manila, Philippines (9 November 2022) – RL Commercial REIT, Inc. (RCR), the Philippines’ largest
real estate investment trust, recorded revenues of Php3.9 billion in the first nine months of 2022
on account of contributions from accretive acquisitions this year, and steady earnings from its
resilient tenant base composed mostly of BPOs and traditional companies.
Compared to the previous quarter, Q3 revenues grew 13% to Php160 million with the transfer of
Robinsons Cyberscape Gamma to RCR via asset-for-share swap, following the approval of the
Securities and Exchange Commission (SEC) last 15 August 2022. Revenues and expenses of
Robinsons Cyberscape Gamma beginning 20 April 2022 will accrue to RCR. Earlier this year,
RCR also added Robinsons Cybergate Bacolod to its portfolio of high-quality office assets. Both
yield-accretive assets were acquired from its Sponsor, Robinsons Land Corporation (RLC).
RCR maintained its strong financial position with Total Assets of Php67.9 billion and
Shareholders’ Equity of Php66.2 billion. The Company continues to be debt-free.
“The infusion of two accretive assets shows our unrelenting commitment to continuously grow
RCR. Less than a year since RCR’s landmark listing, we increased Gross Leasable Area by 13%
from a large base and expanded our foothold to ten cities. We continue to be on the lookout for
opportunities to grow the company.” said Jericho P. Go, RCR’s President and CEO.
3Q 2022 CASH DIVIDEND DECLARATION
The RCR Board of Directors approved the declaration of its third quarterly cash dividend this year
amounting to Php0.0974 per outstanding common share. This declaration brings total dividends
as of the third quarter of 2022 to Php0.2911 per share. Based on the listing price of Php6.45 per
share, this is equivalent to an annualized dividend yield of approximately 6.04%, higher than
RCR’s dividend yield projection of 5.96% according to its REIT plan. For the first three quarters
of 2022, RCR has declared a total of Php2.97 billion in cash dividends, which is more than 90%
of its distributable income (unaudited).
Cash dividends will be payable on 29 November 2022 to stockholders on record as of 22
November 2022. RCR’s dividend policy is to distribute at least 90% of its distributable income, in
compliance with the REIT Law.
STRONGER ASSET PORTFOLIO
Following the acquisition of two assets this year, RCR’s portfolio grew by 13% to a total gross
leasable area (GLA) of over 480,000 square meters (sqm) across 16 prime office assets. RCR
entered the Philippine Stock Exchange (PSE) in September 2021 with an asset size of 425,000
sqm. The infusion of an additional 55,000 sqm of GLA in less than a year since IPO is a testament
to RCR’s commitment to fulfill its plans and continuously grow the Company for its shareholders.
With the acquisition of Cybergate Bacolod, RCR expanded its geographical reach from 9 key
cities to 10. It now has presence in Quezon City, Pasig City (Ortigas Center), Mandaluyong City,
Makati City, Taguig City (BGC), Tarlac City, Naga City, Cebu City, Bacolod City, and Davao City.
RL Commercial REIT, Inc.
25F Robinsons Cyberscape Alpha, Sapphire Garnet Roads, Ortigas Center, Pasig City 1605
www.rlcommercialreit.com.ph
Furthermore, the addition of Cyberscape Gamma to RCR’s portfolio cements the Company’s
dominance in the Ortigas Central Business District, where it now has a total of over 150,000 sqm
of GLA. Other RCR assets located within Ortigas Center are Robinsons Equitable Tower,
Robinsons Cyberscape Alpha, and Robinsons Cyberscape Beta.
RCR continues to be on the look-out for opportunities to acquire assets from its Sponsor, RLC,
and from third parties.
RCR – LARGEST REIT IN THE PHILIPPINES
RCR remains to be the largest REIT in the Philippines with a market capitalization of Php56.96
billion, based on the closing price of Php5.31 per share on 30 September 2022. RCR has
10,726,804,330 in total outstanding shares, which is inclusive of the 777,807,133 shares issued
by the Company to RLC in exchange for Robinsons Cyberscape Gamma.
RCR is a constituent of FTSE Russell and FTSE Global Equity Index Series (GEIS) Asia Pacific
Index – Small Cap. It was awarded as Best REIT (Philippines) by The Asset Country Awards 2021
and Best Sustainable REIT (Philippines) by International Investor Awards 2022.