Rockwell Land Corporation, at its annual stockholders’ meeting last month, announced its expansion plans of almost 200 hectares of development in Cebu, Bulacan and Batangas.
The company is set to launch IPI Center by Rockwell, its third project in Cebu this year. It is a 2.85-hectare mixed use community featuring Rockwell Workspaces and a unique retail concept.
“We are looking forward to our newest Cebu project with the Wong and Castillo families of International Pharmaceuticals Inc., which is located in the heart of the city. We’ll first offer residential units through Lincoln, inspired by the wellreceived Proscenium tower in Makati, and will soon be complemented by a retail area that we envision will excite the market,” said Rockwell Land chairman and CEO Nestor J. Padilla.
Making its mark in a new thriving city, Rockwell will develop a new horizontal neighborhood in San Jose, Bulacan. The 100-hectare project will be designed to build a hillside escape and wellness retreat for its future residents.
The company will also design a future project in Lian, Batangas poised to be its first premium horizontal beach community in the area.
“We are excited about our new vast 85-hectare beach property. It has 700 meters of coastline and clear waters, spread across two natural coves,” added Padilla. In 2024, Rockwell expects to launch its first phase of residential lots.
Rockwell reported an increase in its net income after tax (NIAT) to parent of 40% in 2022 compared to previous year, and expects to reach prepandemic NIAT levels by year end.
The company recorded a P2.3 billion NIAT to parent in 2022. The same year saw record numbers for Rockwell as it achieved a revenue of P16.5 billion, which is already higher than pre-pandemic; and a 52% growth in reservation sales worth P21.2 billion, the highest for the company. Its commercial businesses likewise ended 2022 better than pre-pandemic with its revenue increasing by 77% from previous year. Retail achieved record-high revenue of P1.8 billion due to the lifting of rental concessions and strong tenant sales.
Rockwell launched several projects in different cities in 2022 worth a record-high P29 billion in development revenue. This includes the 4.5-hectare Rockwell at Nepo Center’s second residential tower, The BenCab in Angeles, Pampanga; Terreno South’s fourth phase in Lipa, Batangas, further expanding its horizontal mark in the area; Rockwell Center Bacolod’s commercial lots and Bel-Air residential lots, all part of a grand 30-hectare master planned lifestyle district; and Edades West in Rockwell Center Makati as part of one of the most coveted addresses in the city.
The company remains committed to expand with strong leadership. After the appointment of CEO Padilla as chairman in February 2023, it announced the appointment of Valerie Soliven as its new president and chief operating officer (see related story). Padilla and Soliven, both pioneers of Rockwell, are expected to lead the company to double-digit growth in the next few years.