Upscale property developer Rockwell Land has seen earnings in the first six months exceed full 2020 level, riding on a resilient high-end residential property market during this prolonged COVID-19 pandemic.
Building on this momentum, Rockwell is set to bring to the property market about P21 billion worth of fresh property inventory this year, including two flagship projects in Angeles, Pampanga and Bacolod.
Rockwell president Nestor Padilla estimated that in the first six months of this year, the company’s net income after tax had reached P1.2 billion. For the whole of 2020, the company’s net income amounted to P1.08 billion, down by 63 percent from the previous year.
“We will always hold tight to our vision of creating beyond ordinary communities amid any situation,” Padilla said during the company’s stockholders’ meeting on Wednesday. “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 the crisis.”
Rockwell Center Nepo, Angeles – a 3.6-hectare P8.5-billion joint venture with the Nepomuceno family – will launch this July with its first tower, The Manansala.
“We are excited to be part of the skyline of Angeles, Pampanga. Once the project is completed, the community will feature four mid-rise residential buildings and its very own Power Plant Mall,” Padilla noted.
After the launch of Nara Residences in 2019, Rockwell is also expanding its footprint in Negros with the launch of Rockwell Center Bacolod. Twice the size of the first Rockwell Center in Makati, it will be a 30-hectare master-planned development with commercial centers, residential space and lifestyle and leisure areas. For the first phase, Rockwell will bring to the market P1.4 billion worth of commercial lots by yearend.
Other major project launches for the rest of this year include: Sillion Building at 32 Sanson in Cebu; The Villas at Aruga Resort and Residences – Mactan Phase 2; Terreno South Phase 3 in Lipa, Batangas; more Nara Residences lots in Bacolod; The Arton East Tower in Katipunan, Quezon City, and The Balmori in Rockwell Center, Makati.