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Retail properties are once again taking center stage for Gokingwei-led RL Commercial REIT Inc. (RCR) as the company ramps up plans to infuse more malls into its portfolio amid a recovery in consumer spending and foot traffic.
In a media briefing, the Robinsons Land Corp.-backed real estate investment trust said future asset infusions would “most probably” consist of malls. This signals a growing preference for retail assets over offices as the sector regains momentum after the pandemic.
“We’ll probably announce something in the next three months,” RCR director and treasurer Kerwin Max Tan said.
Tan added that the planned infusions would likely be done in tranches depending on market conditions.
