RDC Properties' profit soars to P73m

RDC’s unaudited financial results for the year ended June 30, showed the value of its investment portfolio rose by 148% to P5.8 billion while revenue shot up by 244% to P249.7 million, predominately as a result of the acquisition of the Tower portfolio.

Commenting on the results, Executive Chair Guido Giachetti said the acquisition has diversified the group’s portfolio in terms of sector and location, reducing their exposure to hospitality and offices and introducing some premium retail assets located in South Africa and Croatia.