Rockwell hikes earnings by 52%

MANILA, Philippines — Rockwell Land Corp., the property company of the Lopez Group, is committed to expand in spite of global challenges.

During the company’s annual stockholders’ meeting, officials said the 2021 net income after tax showed an increase of 52 percent from the previous year to P1.6 billion.

Rockwell introduced 10 new projects across Luzon and Visayas, which in turn, translated to P23.5 billion in development revenues. The company raked in P12.7 billion in gross revenue, higher than the P11.2 billion recorded a year ago.

The company’s new horizontal developments last year include the Nara Residential Lots in Bacolod City, The Balmore Suites in its flagship Rockwell Center in Makati and its foray in central Luzon through The Manansala at Rockwell Center Nepo in Angeles City in Pampanga.

Rockwell president and CEO Nestor Padilla
said Rockwell Center Nepo received very good reception from buyers from Pampanga, Manila and abroad. It was almost 70 percent sold at the end of 2021.

“In the middle of the community will be the first Power Plant Mall outside of Makati,” Padilla  said.

In the Visayas, Rockwell is also developing two new projects namely the 2.8-hectare Rockwell IPI in Cebu City in partnership with IPO 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. Residential lots will also  be launched toward the end of 2022,” Padilla said.

Rockwell is banking on the resilience of real estate as it strategically grows its footprint in key locations across the country.