Rockwell Land Corporation at its annual stockholders’ meeting on May 25, 2022 reported a steady post-pandemic showing with a 52% increase in its 2021 net income after tax (NIAT) compared to the previous year.
The company disclosed a NIAT to parent of P1.6 billion and introduced 10 new projects across Luzon and the Visayas in 2021. This amounted to P23.5 billion in development revenues and contributed to a significant increase in reservation sales. Among the projects launched include a new horizontal development with Nara Residential Lots in Bacolod City; a welcome addition to the flagship Rockwell Center in Makati, The Balmori Suites; and its foray into Central Luzon through The Manansala at Rockwell Center Nepo in Angeles City, Pampanga.
“The Manansala at Rockwell Center Nepo received very good reception with buyers from Pampanga, Manila and even abroad, which led to it being almost 70% sold by year-end. In the middle of the community will be the first Power Plant Mall outside of Makati,” said Rockwell Land president and CEO Nestor J. Padilla.
Recovery was likewise felt across all business units in 2021, with revenue reaching P12.4 billion and earnings before interest, taxes, depreciation and amortization or EBITDA at P4.3 billion. Commercial revenues were stable at P2.1 billion. Retail sales reached more than 80% of pre-pandemic levels with foot traffic in the holiday season reaching an alltime high since the pandemic began.
Further adding to Rockwell’s growing footprint this year are two new developments in the Visayas: the 2.8-hectare Rockwell IPI in Cebu City in partnership with International Pharmaceuticals Inc., and the 30-hectare Rockwell Center Bacolod which will be composed of residential and retail developments and a business park.
“To start off the Rockwell Center Bacolod community, Rockwell Business Park will offer commercial lots for investors. Residential lots will also soon launch towards the end of 2022,” Padilla said.
Other projects for launch include Edades West, a new premium residential tower at Rockwell Center in Makati.