RL Commercial REIT, Inc. (RCR) on Thursday said that it sustained its earnings momentum in 2025 as rental income from recently infused mall assets boosted revenues and supported continued dividend growth.
The company reported unaudited revenues of P11.08 billion for the year, up 35 percent from 2024, excluding the effect of changes in the fair value of investment properties. It added that portfolio occupancy remained high at 96 percent, supported by income from assets infused in 2024 and additional mall acquisitions completed last year.
Revenue growth accelerated in the fourth quarter, with revenues rising to P3.42 billion, a 49-percent increase from a year earlier and a 12-percent gain quarter-on-quarter, reflecting the full-quarter contribution of nine malls acquired in 2025.
“RCR continues to benefit from the upside of mall rental income from the 2024 asset infusion, together with the 2025 infusion,” RCR President and CEO Jericho Go said.
“With a higher proportion of malls in the portfolio, RCR is well positioned to capture the advantage of the ever-resilient consumer, while office performance remains vibrant.”
The real estate investment trust said it ended 2025 with unaudited total assets of P167.76 billion and shareholders’ equity of P162.19 billion while remaining debt-free.
The earnings performance coincided with RCR’s inclusion in the Philippine Stock Exchange index (PSEi) during the latest rebalancing, placing the REIT among the most liquid and well-capitalized firms on the local bourse.
The company also declared a regular cash dividend of P0.1112 per share for the fourth quarter of 2025, payable on March 2, 2026 to shareholders of record as of Feb. 20, 2026.
For the full year, the company declared P7.54 billion in cash dividends, equivalent to more than 90 percent of its unaudited distributable income, in line with the REIT Law.
As of end-2025, RCR’s portfolio consisted of 38 assets, of which 21 are malls and are 17 offices.
RL Commercial shares rose P0.03, or 0.40 percent, to close at P7.53 each on Thursday, outpacing the benchmark Philippine Stock Exchange index's 0.14-percent gain.
