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Rockwell eyes major project launches this year

by Faye Almazan

Listed Rockwell Land Corp. is poised to launch a number of major projects this year, including two new flagship developments in Pampanga and Bacolod.

In a disclosure on Thursday, the property arm of the Lopez Group said the 3.6-hectare (ha) Rockwell Center Nepo Angeles is a joint venture with the Nepomuceno family.

One completed, Rockwell Land President and Chief Executive Officer Nestor Padilla said the project will feature four mid-rise residential buildings and its own Power Plant Mall.

The P8.5-billion development is set to launch this July with its first tower, The Manansala.

Meanwhile, the 30-ha Rockwell Center Bacolod is a masterplanned development with commercial centers, residential spaces and lifestyle and leisure areas.

The first phase of the project, which consists of commercial lots, is slated to be launched by the end of the year and is expected to generate P1.4 billion in revenues for the company.

Rockwell also cited other developments to be added to its portfolio this year, which they said strengthens their resolve to recover soon from the impact of the pandemic.

This includes the Sillion Building at 32 Sanson in Cebu; The Villas at Aruga Resort and Residences-Mactan Phase 2; Terreno South Phase 3 in Batangas; Nara Residences Lots in Bacolod; The Arton East Tower in Quezon City; and The Balmori in Rockwell Center Makati.

“We will always hold tight to our vision of creating beyond ordinary communities amidst any situation. We remain optimistic to launch several projects, especially with the continued trust our clients have given our brand after seeing how we all handled the first year of crisis,” Padilla said.

Rockwell saw a 63-percent weaker net income after tax (NIAT) to parent of P1.08 billion last year, while its consolidated revenues stood at P10.7 billion during the period.

The company noted, however, that its first half 2021 performance has already exceeded the results of full year 2020 as NIAT to parent reached P1.2 billion.

Shares of Rockwell gained 4 centavos or 2.61 percent on Thursday to close at P1.57 apiece.