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Richmond Mercurio - The Philippine Star
March 8, 2025 | 12:00am
MANILA, Philippines — Strong investment portfolio growth powered Gokongwei-led real estate developer Robinsons Land Corp. (RLC) to a double-digit profit jump in 2024.
RLC reported a net attributable income to parent of P13.21 billion in 2024, up by 10 percent year-on-year, with revenues rising by two percent to P42.88 billion.
The company’s investment portfolio continued to provide strong growth during the year, contributing to 77 percent of revenues.
Revenues of the investment portfolio increased by 14 percent to P32.83 billion, led by malls, followed by offices, hotels and logistics.
RLC’s development portfolio, meanwhile, recorded P10.06-billion in realized revenues, supported by residential revenue recognition, deferred land sales and contributions from joint ventures.
“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,” RLC president and CEO Mybelle Aragon-GoBio said.
“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,” she said.
Across its business segments, malls maintained strong growth momentum, driven by higher tenant sales, increased foot traffic and continuous improvements in mall offerings.
Robinsons Malls generated P17.96 billion in revenues, up 11 percent year-on-year.
Last year, the company opened Opus Mall at Bridgetowne Estate, bringing its mall portfolio to 55 lifestyle centers.
The company’s total mall leasable space currently stands at 1.68 million square meters, featuring over 8,700 retailers.
Rental growth across its high-quality office developments, meanwhile, fueled an eight percent year-on-year increase in revenues for RLC’s office segment to P7.95 billion.
Occupancy was stable at 86 percent, underscoring the resilience of the company’s office portfolio.
RLC currently operates 32 office buildings with a total gross leasable area of 793,000 square meters.
In the hospitality sector, RLC maintained its growth momentum in 2024 through Robinsons Hotels and Resorts (RHR), with revenues surging by 31 percent to P6 billion on the back of the robust performance across all brands, coupled with strong food and beverage which contributed 38 percent of total revenues.
RHR’s portfolio is composed of 26 hotel properties with over 4,000 room keys.
Supported by sustained demand for industrial and warehouse spaces, Robinsons Logistics and Industrial Facilities (RLX) likewise registered a 33-percent hike in revenues to P916 million in 2024.
RLX operates 12 industrial facilities across key locations in Metro Manila, Pampanga and Laguna, offering 294,000 square meters of gross leasable space to support the growing needs of businesses.
Property development revenues of Robinsons Destination Estate reached P1.27 billion, while RLC Residences generated P20.18 billion of net sales.
“As we move forward, we remain committed to creating sustained value for our stakeholders through disciplined execution and innovation,” Aragon-GoBio said.
Meanwhile, RLC announced yesterday the return of Robina Gokongwei-Pe in its board.
RLC said that Gokongwei-Pe was elected as a member of the company’s board of directors effective March 7, 2025.
The company previously disclosed that Gokongwei-Pe stepped down as director of RLC effective Feb. 1, 2025.
