ROCKWELL LAND CORP. is expanding its portfolio with the launch of three projects in key geographic locations, officials of the Lopez-led listed property developer said on Wednesday.
“With the promise of growing touch, we will build more communities this year. We are set to launch almost 200 hectares of development in three different cities,” said Rockwell Land President and Chief Executive Officer Nestor J. Padilla during the company’s annual stockholders’ meeting.
One of the projects to be launched this year is a 2.85-hectare mixed-used community in Cebu, Mr. Padilla said.
“In the heart of Cebu, we will launch IPI Center by Rockwell a joint venture with the Wong and Castillo families of International Pharmaceuticals, Inc.,” he added.
The Cebu development will also offer retail spaces for future residents.
The company aims to diversify its product offerings as it expands to key geographic areas, Rockwell Land Executive Vice-President and Chief Revenue Officer Valerie L. Soliven said.
“[We will be] cutting across all markets in the next few years,” Ms. Soliven said. “We are excited to launch three new projects this year in Cebu, Laguna, and Batangas.”
For next year, the company will expand its horizontal portfolio with the addition of the Rockwell brand in Bulacan and in Lian, Batangas, she said.
The company will be launching a 100-hectare horizontal community in Bulacan, which aims to promote wellness living.
“A thriving location north of Metro Manila, we can expect a hillside escape that promotes wellness living,” said Mr. Padilla.
Additionally, Rockwell Land will introduce its first premium horizontal beach community in Batangas, with the first phase of residential lots to be launched by 2024.
The Batangas property is a beach development of about 100 hectares, with 700 meters of coastline and clear waters, spread across two natural coves.
“We hope to provide a new unique living experience for our core market, in a leisure environment just two hours from Manila,” Mr. Padilla said.
During the first quarter, Rockwell Land reported an attributable net income of P600 million, up 14.5% from P524 million in the same period last year.
The company’s top line for the three months rose by 10.3% to P3.65 billion from P3.31 billion the previous year amid higher sales from residential developments, which contributed 73% to total revenues or P2.65 billion.
Rockwell Land is the real estate subsidiary of Lopez-led First Philippine Holdings Corp. Its shares fell by 3.52% or five centavos to finish at P1.37 each on Wednesday. — Adrian H. Halili