Robinsons Land net income surges 62% in 2021

Robinsons Land Corporation announced a 62 percent increase in net income for 2021, reaching P8.5 billion, which is nearing its pre-pandemic financial performance.

The company's consolidated revenues also saw a significant rise of 30 percent, amounting to P36.5 billion for the year.

During the fourth quarter of 2021, Robinsons Land posted P5.66 billion in revenues and P206 billion in net income, attributed to the easing of restrictions.

The mall business experienced a revenue boost due to increased foot traffic, while the office segment maintained its growth and the hotels division achieved a 16 percent quarter-on-quarter increase.

RLC president and CEO Frederick Go expressed optimism about the company's position for growth and accelerated recovery as the economy moves towards full reopening, citing the company's diverse portfolio, strong balance sheet, and agile mindset.

In 2021, Robinsons Land also successfully listed its real estate investment trust, RL Commercial REIT, which became the largest in the Philippines by market capitalization, portfolio valuation, and asset size.