Rockwell Land Corp., the property arm of the Lopez Group, said Wednesday it increased its land bank to 500 hectares which will provide steady revenues over the next five years.
Rockwell Land chairman and chief executive Nestor Padilla said during the company’s virtual annual stockholders meeting more than 90 percent of the land bank is located in key cities of Pampanga, Laguna, Batangas and Bulacan.
“Our current presence in these strategic sites has given us the optimism to develop more products, allowing us to excite our core market with new offerings to complement their lifestyle,” Padilla said.
Padilla said Rockwell Land will launch three new horizontal developments in Batangas and Bulacan this year.
The Bulacan project is a 100-hectare development in San Jose Del Monte, Bulacan. This project, to be called The Samanean at Paradise Farms, is designed to build a hillside escape and wellness retreat for residents.
The two projects in Batangas are the 63-hectare property in Lipa and another 38-hectare development in Bauan.
Padilla said the Lipa project would be a mixed-use development in partnership with General Milling Corp., while the Bauan development woyuld be a residential estate with a hotel concept.
“Our commitment to provincial development remains steadfast, as evidenced by our ongoing expansion and development efforts in provincial areas,” said Rockwell Land president and chief operating officer Valerie Soliven.
“With projects underway in Bulacan, Batangas and the Visayas, we anticipate significant progress in the provinces,” Soliven said.
Meanwhile, Rockwell Workspaces, the company’s office unit, will makes its first venture outside Metro Manila with the launch of 1 Rockwell within the 2.8-hectare IPI Center in Cebu City in July.
Rockwell Land reported a P3.1 billion net income after tax (NIAT) in 2023, a 35-percent increase from the previous year, surpassing pre-pandemic level.
Consolidated revenues reached P18.5 billion from residential and commercial businesses. Retail revenues grew 27 percent year-on-year on improved rental rates and new store openings.
“Through the dynamic real estate landscape, the developer continues to expand not just its footprint but also its product offerings. In growing its business, Rockwell Land remains committed to providing its distinct brand of quality and service to its customers,” the company said.
