New deal raises RDC Properties’ profits 180%

On the rise:  RDC Properties’ Masa Centre is among assets enjoying recovery
On the rise: RDC Properties’ Masa Centre is among assets enjoying recovery

Listed real estate chain, RDC Properties’ pretax profits for the half year to June 30 reached P76.4 million, nearly triple the level from the previous corresponding period, as the impact of a major acquisition made last December reflected on the group’s books.

RDC Properties closed the P980 million purchase of the Tower Property Fund on December 28 last year in a deal that added 46 properties located in South Africa and Croatia to the local group’s portfolio.

The deal ballooned the group’s investment and property portfolio by 153% to P5.8 billion but had a minimal effect on profits as it was concluded three days before the end of the 2021 financial year.

Editor's Comment
CoA brings sanity to DIS/DCEC long-standing feud

This decision follows the raiding of the office of the former Director General of the DCEC, Tymon Katlholo early 2022 and his staff officer by the DIS operatives who reportedly took files that they had targeted.After all back and forth arguments, the CoA has set the record straight giving an invaluable lesson to the DIS that it was no super security organ and it does not have any powers to cogently supervise other security organs including the...

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