Lopez-led property developer Rockwell Land is set to unveil in Canlubang, Laguna, its first high-end subdivision development and also foray into Bacolod’s residential condominium market as part of P12.7 billion worth of new residential inventory to be launched this year.
In the company’s stockholders meeting yesterday, Rockwell president Nestor Padilla said Rockwell would launch by the third quarter a high-end horizontal project in Laguna called Rockwell South at Carmelray.
Rockwell South will offer residential lots ranging from 650 to 1,000 square meters each within a gated community. The lots will sell for P30,000 to P40,000 per square meter (sqm), which means entry-level price will be P19.5 million.
The new development, a joint venture with the Yulo family’s Carmelray Property Holdings and San Ramon Holdings, will initially offer this year 252 lots which will bring in gross revenue of P4.6 billion. Rockwell South will rise on a 63-hectare land that the Yulo family had intended to form part of the existing industrial hub.
In Bacolod, Rockwell acquired a 10.9-ha former farmland to build on an eight-tower upscale midrise development. This is a P9-billion project in terms of sales value.
The launch price for the units in Bacolod is between P110,000 and P120,000 per sqm. The typical footprint is 36 to 100 sqm.
A midrise low-density development which will merge condominium and townhouse living will be launched in Quezon City in November. This is a P2.8-billion project called Benitez Suites. It will offer only 64 units with an average size of 200 sqm priced at P40 million to P60 million.
The company will also launch by the third quarter of this year the second tower of East Bay Residences, bringing to the market P2.7 billion worth of fresh property inventory.
Source: https://business.inquirer.net/271575/rockwell-unveils-high-end-project-in-laguna
