Robinsons Land Corp plans to infuse P33.9bn worth of commercial assets into its REIT unit, RL Commercial REIT, in a property-for-share swap deal to expand its geographical reach.
Robinsons Land Corp (RLC), part of the Gokongwei Group, plans to infuse 13 commercial assets worth P33.9bn into its real estate investment trust (REIT) unit, RL Commercial REIT Inc (RCR), in a property-for-share swap deal. This transaction will increase RCR's total gross leasable area (GLA) from 480,479 sqm to 827,808 sqm, making it the Philippines' REIT with the widest geographical reach. The deal is subject to regulatory approval and is expected to be completed within the year.
June 06, 2024
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