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Property developer Robinsons Land Corp. is set to inject 11 shopping malls and two office assets worth P33.91 billion into its real estate investment trust firm RL Commercial REIT Inc. via a property-for-share swap deal.
These malls include Robinsons Novaliches, Robinsons Cainta, Robinsons Luisita, Robinsons Cabanatuan, Robinsons Lipa, Robinsons Sta. Rosa, Robinsons Imus, Robinsons Los Baños, Robinsons Palawan, Robinsons Ormoc and Cybergate Davao. “The planned asset infusion will diversify our predominantly office asset portfolio with the inclusion of mall assets. This is in line with RCR’s commitment to shareholders to continuously grow the company,” said RCR president Jericho Go.
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