Volatility halts RCR expansion

L Commercial REIT Corp., the real estate investment trust arm of developer Robinsons Land Corp., aims to double its property portfolio to more than two million square meters, though management is pausing the next phase of asset injections until global market volatility subsides.

- By JAMES A. LOYOLA

Jericho P. Go, president and chief executive officer of RCR, said in an interview that heightened market instability fueled by geopolitical tensions in the Middle East has pressured asset and share valuations. Consequently, the current environment is not optimal for Robinsons Land to transfer additional properties into the REIT in exchange for shares. Despite the near-term caution, Go said the long-term growth trajectory remains intact. He noted that the company can easily double its current footprint of 1.15 million square meters given that its sponsor