Robinsons Land Corp. (RLC), the property arm of the Gokongwei Group, said Friday its net attributable income to parent grew 10 percent in 2024 to P13.21 billion.
Revenues inched up 2 percent year-on-year to P42.88 billion, the company said in a disclosure to the stock exchange.
“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. 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,” said RLC president and chief executive Mybelle Aragon-GoBio.
“As we move forward, we remain committed to creating sustained value for our stakeholders through disciplined execution and innovation,” she said.
The investment portfolio, including malls, offices, hotels and logistics units, delivered revenues of P32.83 billion, up by 14 percent from a year ago level. This accounted for 77 percent of total revenues.
The development portfolio booked P10.06 billion in realized revenues, on sales contribution from residential revenue recognition, deferred land sales and contributions from joint ventures.
Robinsons Malls generated P17.96 billion in revenues, an 11 percent year-on-year increase, driven by higher tenant sales, increased foot traffic and continuous improvements in mall offerings.
Rental revenues grew 10 percent year-on-year to P12.58 billion.
RLC opened Opus Mall at Bridgetowne Estate in July 2024, marking its entry into the upscale market.
RLC has 55 lifestyle centers with total mall leasable space spanning 1.68 million square meters (sq. m.)
RLC’s office segment posted an 8-percent increase in revenues to P7.95 billion in 2024, supported by rental growth across its office developments. Occupancy rate stood at 86 percent
It operates 32 office buildings with a total gross leasable area of 793,000 sq. m. and 11 workable locations, offering 2,601 co-working seats.
The group’s hotels and resorts unit saw its revenues rise 31 percent in 2024 to P6 billion on the back of strong performance across all brands,
It has 26 hotel properties with over 4,000 room keys across the country,
RLC Residences generated P20.18 billion of net sales last year, including P7.29 billion from organic projects and P12.89 billion from joint ventures.
