Rockwell Land Corporation (PSE: ROCK), at its Annual Stockholders’ Meeting held on May 29, 2024, declared a significant growth in its landbank with a total of 500 hectares to its name this year. This is projected to generate an increase in revenue for the company in the next 5 years.
“More than 90% of our land bank is located in the key cities of Pampanga, Laguna, Batangas, and Bulacan,” says Rockwell Land Chairman and CEO, Nestor Padilla. “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.”
This year, the company is set to launch three new horizontal developments. Among these is a new neighborhood in San Jose Del Monte, Bulacan spanning 100-hectares. This project in Bulacan will be called The Samanean at Paradise Farms is designed to build a hillside escape and wellness retreat for its future residents. Meanwhile, upcoming in Lipa, Batangas are a 63-hectare mixed-use development in partnership with General Milling Corporation (GMC) and a 38-hectare residential development with a hotel concept. The latter will be called Lauan Ridges and will have breathtaking views of the Taal Lake.
“Our commitment to provincial development remains steadfast, as evidenced by our ongoing expansion and development efforts in provincial areas,” shares Rockwell Land President and COO, Valerie Soliven. “With projects underway in Bulacan, Batangas, and the Visayas, we anticipate significant progress in the provinces.”
Rockwell Workspaces likewise makes its first venture outside of Metro Manila with the July 2024 launch of 1 Rockwell, the first office building in the 2.8-hectare IPI Center community, presenting new investment opportunities at the heart of Cebu City.
Rockwell also reported a Php 3.1 billion Net Income After Tax (NIAT) to Parent in 2023, a 35% increase compared to previous year, surpassing pre-pandemic level. Php 18.5 billion of revenues were from both their Residential and Commercial businesses, with Retail growing 27% from previous year due to 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.
For more information on this press release, please contact:
Ellen Almodiel
[email protected]
09178061950
Tracey Castillo
[email protected]
09178015350
