RLC profit rises by 10% in 2024

Strong investment portfolio growth powered Gokongwei-led real estate developer Robinsons Land Corp. (RLC) to a double-digit profit jump in 2024.

- — Richmond Mercurio

RLC reported a net attributable income to parent of P13.21 billion in 2024, up by 10 percent year-on-year, with revenues rising by two percent to P42.88 billion.

The company's investment portfolio continued to provide strong growth during the year, contributing to 77 percent of revenues.

Revenues of the investment portfolio increased by 14 percent to P32.83 billion, led by malls, followed by offices, hotels and logistics.

RLC's development portfolio, meanwhile, recorded P10.06 billion in realized revenues, supported by residential revenue recognition, deferred land sales and contributions from joint ventures.

"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," RLC president and CEO Mybelle Aragon-GoBio said.