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    INVESTORS' CENTER - Year Ended September 30, 2006
    Financial Highlights     Housing and Land Dev't Division
    Message to the Stockholders     Hotels Division
    Commercial Centers Division     Board of Directors
    Residential Buildings Division     Downloads
    Office Buildings Division
     
    Office Buildings Division
   
RLC is the country's largest office space landlord. It primarily develops and leases premium offices in metropolitan Manila particularly in the country's central business districts of Ortigas and Makati.

Business Process Outsourcing companies occupy the largest areas in these office buildings. The country continues to attract multinational call center and business process outsourcing companies, and thus, this industry segment is expected to continue to benefit from the sustained demand.