Rockwell Land Corporation (PSE: ROCK), at its Annual Stockholders’ Meeting held 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 Php 1.6 billion and introduced 10 new projects across Luzon and Visayas in 2021. This amounted to Php 23.5 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,” says Rockwell Land President and CEO Nestor J. Padilla.
Recovery was likewise felt across all business units in 2021, with Revenue reaching Php 12.4 billion and EBITDA at Php 4.3 billion. Commercial revenues were stable at Php 2.1 billion. Retail sales likewise reached more than 80% of pre-pandemic levels with foot traffic in the holiday season reaching an all-time high since the pandemic began.
Further adding to Rockwell’s growing footprint this year are two new developments in 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 shares.
Other projects slated for launch include Edades West, a new premium residential tower at the flagship Rockwell Center in Makati City.
Banking on the resilience of real estate and a strong commitment to quality, Rockwell Land propels forward with plans for expansion in spite of challenges faced globally. Through this, the company finds success in strategically growing its footprint in key locations across the country.