EXCERPT

Led by the mall and office businesses, revenues jumped 19 percent to P4.92 billion to contribute 73 percent of total revenues, 85 percent of overall EBITDA, and 78 percent of consolidated operating income.

As more regions, including Metro Manila, transitioned to the lowest COVID-19 alert level, RLC said it is poised for sustained recovery on the back of increased mobility, improved consumer sentiment and expanded operational capacities.

RLC’s property development portfolio generated P1.77 billion in realized revenues in the first quarter of 2022, registering a decline of 86 percent due to the recognition of revenues from China last year.

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