Gokongwei-backed Robinsons Land finalizes P31-B mall infusion into RCR

The Gokongwei family’s Robinsons Land Corp. (RLC) sealed a P30.67 billion property-for-share swap with RL Commercial REIT Inc. (RCR) on August 13, 2025, transferring nine mall assets in exchange for 3.83 billion primary RCR shares.

This fourth infusion boosts RLC’s stake in RCR from 57.23 percent to 65.62 percent, with the shares priced at P8 apiece.

The transaction will be completed after several more regulatory steps, including approval from the Securities and Exchange Commission (SEC) and the issuance of a Certificate Authorizing Registration (CAR) from the Bureau of Internal Revenue (BIR). 

The malls to be infused include Robinsons Magnolia (Quezon City), Robinsons Dasmariñas (Cavite), Starmills (Pampanga), General Trias (Cavite), Cybergate Cebu, Tacloban, Malolos (Bulacan), Santiago (Isabela), and Tuguegarao.

Combined, the assets total over 324,000 square meters of gross leasable space, independently valued and backed by a fairness opinion from FTI.

—Edited by Miguel R. Camus 

Editor’s Note: The property infusion is not yet final. It must first clear key regulatory steps, including approval from the SEC, the issuance of a Certificate Authorizing Registration and listing of shares on the Philippine Stock Exchange (PSE).