RL Commercial REIT Inc. (RCR) reported a 41-percent increase in revenue to P10.81 billion in the first nine months of 2026, as newly infused malls and the full-period contribution of previously acquired properties lifted its rental business.
Net income, excluding fair-value changes in investment properties, rose 38 percent to P7.76 billion during the period, the company said on Friday.
The results were supported by the addition of six malls to its portfolio in 2026, on top of the nine malls infused in the previous year.
For the third quarter alone, RCR’s revenue increased 27 percent year on year to P3.91 billion, while net income rose 29 percent to P2.81 billion.
Revenue grew 12 percent from the second quarter, adding P405 million following the completion of the transfer of the six properties. RCR recognized revenues and expenses from the newly infused malls beginning July 1.
“The mall infusions continue to prove their accretive value to RCR. With the recognition of revenues from the six malls recently infused reflected in our financial results, our shareholders shall continue to realize the benefits of these infusions,” RCR President and CEO Jericho Go said.
The company’s portfolio expanded to 44 assets, comprising 27 malls and 17 office buildings, with a combined gross leasable area (GLA) of 1.31 million square meters (sqm) across 30 locations. Its system-wide occupancy rate stood at 96 percent as of end-September.
RCR reported total assets of P181 billion and equity of P173.77 billion, and is said to have remained debt-free during the period.
The company’s board also approved a regular cash dividend of P0.124 per share for the third quarter, payable on Dec. 2 to shareholders on record as of Nov. 25.
Total dividends declared for the first nine months reached P7.09 billion, equivalent to more than 90 percent of its unaudited distributable income.
RCR said its expansion pipeline included about 1.6 million sqm of combined GLA from potential mall, office and logistics developments, as well as around 4,000 hotel room keys.
In the same period last year, RCR recorded revenue of P7.59 billion, up 30 percent from 2024, and net income of P5.46 billion, up by 28 percent, also driven by property infusions, including nine malls added in the third quarter of 2025.
On Friday, shares of RCR climbed P0.09, or 1.49 percent, to close at P6.15 each.
