RLC Residences and Robinsons Homes, under Robinsons Land Corporation (RLC), generated Php5.39 billion in realized revenues for the first half of 2023.
Excluding China, revenues grew 28% on the back of higher collections, faster construction progress, and strong equity earnings contribution from joint venture projects amounting to Php1.01 billion, 53% better than 2022.
Net sales take-up for the first half of 2023 accelerated by 107% year-on-year to Php12.43 billion, from Php6.01 billion in the same period last year. Meanwhile, residential sales from joint venture projects – Aurelia, Velaris, Sonora and Haraya – rose to Php8.79 billion, up 74%.
In the first half of 2023, RLC Residences launched three (3) new projects, namely, Le Pont Residences, Sierra Valley Gardens’ Building 4, and Mantawi Residences’ Tower 1 in Mandaue City.
Le Pont Residences brings together carefully crafted living spaces and three levels of hypersized amenities in a world-class address within the Bridgetowne Destination Estate. This premium development allows residents to embrace the elevated lifestyle.
Meanwhile, Sierra Valley Gardens is a sprawling multi-tower residential condominium tucked within Sierra Valley, an extensive master-planned destination estate along Ortigas Avenue extension in Cainta, Rizal.
Finally, Mantawi Residences in Cebu offers luxurious condominium units with modern amenities and features. It is strategically located in Ouano Avenue in Mandaue City, providing residents with convenient access to lifestyle establishments and major thoroughfares.
RLC recorded property development revenues of Php446 million for the first six months of the year from the sale of parcels of land to joint venture entities. EBITDA and EBIT closed at Php251 million and Php249 million, respectively.
Overall, RLC, a leading diversified real estate company in the Philippines, delivered strong growth across all businesses and achieved record. Consolidated revenues registered at Php19.63 billion, while EBITDA and EBIT reached Php10.87 billion and Php8.25 billion, respectively. Higher revenues complemented by increased operational efficiency pushed operating margins to record highs of 55% (EBITDA) and 42% (EBIT).
