Rockwell Land CorporationRockwell Land Corporation, during its annual stockholders’ meeting, announced the launch of The Arton’s second tower this June.
The company’s first premium high-rise development in Quezon City launched its first tower, Arton West, last July 2017, selling P1 billion worth of units in just two months.
With no official launch yet, the second tower, Arton North, is already performing 20% above budget, coming from the strong market reception of Arton West.
The Arton North will be located in the heart of the amenities, fronting the expansive main pool deck and housing indoor amenities like the fitness gym, function room and a co-working space. Introducing more diverse unit types, it allows investors to choose from more studios to various sizes of two- and threebedroom units for discerning growing families.
“Our venture into the Quezon City area surprised us with robust sales. Riding on this success, we will officially open inventory for Arton North this June with different sizes per unit type to cater to different market profiles,” Rockwell Land president and chief executive officer Nestor J. Padilla said.
The P15.6-billion threetower Rockwell project is a joint venture with Japan’s largest real estate company, Mitsui Fudosan Inc. Featuring an 80:20 landscape-to-building ratio, The Arton by Rockwell is scheduled to be completed by 2023.
Rockwell Land reported its highest net income to date at P2.1 billion in 2017, a 15% increase from 2016. The company’s 2017 revenue of P14.3 billion can be mainly attributed to the increased bookings of The Proscenium at Rockwell and construction accomplishment for Edades Suites and Rockwell Primaries’ The Vantage at Kapitolyo. EBITDA [earnings before interest, taxes, depreciation and amortization] amounted to P3.6 billion, 7% higher than previous year.
Rockwell is also set to launch its first resort development in Mactan, Cebu.
“We remain to be on the move with our newest development in Punta Engaño boasting of beachfront living. The 5.3- hectare property will have over 200 residential units and a hotel that will serve the growing tourism industry,” Padilla said.
Already gaining high interest, the P6.2-billion new Rockwell project for sale is scheduled to launch third quarter of this year.
The company also announced its plans to increase its land bank from 3% to 12% of its total assets.
“Aside from properties we will be closing in Metro Manila, we are currently in advanced discussions for mixed-use projects in both the north and south of the metro. We are very excited about this growth as it will allow us to introduce different products and share the Rockwell lifestyle to new markets,” said Rockwell senior vice president for Business Development Davy Tan.