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Robinsons-owned firm aims to be largest REIT company in PH

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Robinsons Land Corporation's RL Commercial REIT Inc. aims to be the biggest real estate investment trust company in the country with a market capitalization of ₱64.2 billion.

A company owned by Robinsons Land Corporation aims to be the country's largest real estate investment trust firm.

In a disclosure letter to the Philippine Stock Exchange and the Securities and Exchange Commission dated Aug. 20, the RCR set its final offer price for the firm's planned REIT initial public offering at ₱6.45 per share.Compared with other REITs, the initial portfolio size of RCR has the biggest total gross leasable office area at 425,315 square meters with an aggregate appraised value of ₱73.9 billion as of June 30.

The RCR chief also pointed out that the firm can extend land leases for as long as 99 years, the longest land tenure among Philippine REITs.

 

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