By Revin Mikhael D. Ochave, Reporter
ROCKWELL LAND Corp.’s land bank has reached 500 hectares (has) worth more than P10 billion, which it said could generate revenue until 2028.
This is five times more than five years ago, Rockwell Land Chairman and Chief Executive Officer Nestor J. Padilla said in the company’s annual report presented at its annual stockholders’ meeting on Wednesday.
More than 90% of the property developer’s land is in the 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,” he added.
Rockwell Land will launch three horizontal developments this year. One of these is the 100-hectare The Samanean at Paradise Farms in San Jose Del Monte, Bulacan, which will be designed as a hillside escape and wellness retreat.
The project will be launched in the third quarter. Its first phase will offer 250- to 300-square-meter lots.
Rockwell Land will also launch a 63-hectare mixed-use development in partnership with General Milling Corp., initially offering 250– to 400-square-meter lots. It will also launch the 38-hectare Lauan Ridges residential development with a hotel that will have views of Taal Lake. Both are in Lipa, Batangas province south of Manila.
“We want our next five years to be the best,” Mr. Padilla said. “We hit the ground rolling with our geographic expansion and land banking, projected to give us revenue growth until 2028.”
“Our new projects, though in new territories, keep us hopeful with its positive initial market reception,” he added.
Rockwell Land President and Chief Operating Officer Valerie Jane L. Soliven told stockholders the company is optimistic despite risks.
“We’re seeing risks like inventory buildup and with rising interest rates and inflation, there’s always that risk that discretionary spending will be hampered,” she said. “However, we are optimistic in the markets that we are serving.”
“In particular, we are confident in the resilience of our core luxury segment and the growth of regional and horizontal markets,” she added.
Ms. Soliven said Rockwell Land expects “significant progress” in its projects in Bulacan, Batangas, and the Visayas region in central Philippines.
“Our commitment to provincial development remains steadfast, as evidenced by our ongoing expansion and development efforts in provincial areas,” Ms. Soliven said.
Rockwell Workspaces, the company’s office brand, will have its first venture outside Metro Manila with the launch of 1 Rockwell in July.
It will be the first office building in the 2.8-hectare IPI Center community, presenting new investment opportunities in Cebu City.
Last year, Rockwell Land’s attributable net income rose by 35% to P3.1 billion, while revenue increased by 12.1% to P18.5 billion.
Rockwell Land shares gained 0.64% or a centavo to P1.58 each.
