Rockwell Land to Launch First and Biggest Premium Horizontal Development in Canlubang, Laguna
Rockwell Land Corporation (PSE: ROCK), during its Annual Stockholders’ Meeting, officially announced the launch of a residential neighborhood in Canlubang, Laguna called Rockwell South at Carmelray, by third quarter of 2019. Rockwell Land’s first premium horizontal project will initially launch over 250 lots as part of the 63-hectare phase 1 of the development.
Rockwell Land President and Chief Executive Office Nestor Padilla said, “After creating a master-planned community in our current 19.1-hectare Rockwell Center in Makati, we look forward to bring the same success to Rockwell South, set to be another flagship development much larger scale.”
Rockwell South at Carmelray is Rockwell’s first project that will offer residential lots ranging from 650 to 1,000 sqm each. The development will come complete with Rockwell’s signature open spaces, landscape and amenities. It will feature function rooms, pocket gardens, dog parks, a multipurpose court, and other recreational facilities, bringing Rockwell Land’s unparalleled standard of living to the South.
The new development is a joint venture with Carmelray Property Holdings, Inc. and San Ramon Holdings Inc. Its first offering of 252 lots is expected to bring in a revenue of PhP3.9 billion.
Rockwell Land reported its net income after tax at PhP2.5 billion, an increase of 22% from the previous year, setting another record high for the company. The company’s revenue amounted to PhP15.7 billion while EBITDA grew by 23% to PhP4.5 billion. On-going and newly launched projects continue to experience robust demand resulting in a 30% growth in reservation sales, reaching an all-time high of PhP14.9 billion.
With the company’s geographic growth in emerging cities, an addition of over 10 hectares of land will also be launched this year.
By year-end, Rockwell Land is set to establish presence in the City of Smiles, Bacolod, with the launch of its high-end development in September 2019. The PhP8 billion project will feature 8 mid-rise residential towers, plus retail and activity areas in a 10.9-hectare land.
Another mid-rise low-density development by Rockwell will merge condominium and townhouse living. The PhP2.8 billion project called Benitez Suites, is scheduled to launch in November 2019 and will bring the signature Rockwell promise of exclusivity of Southern Quezon City.
With its first tower, Fordham, now 86% sold, East Bay Residences by Rockwell Primaries located in Sucat, Muntinlupa is also set to launch its second tower by 3rd Quarter 2019. It will feature more unit options to attract the broader market.
“After several launches scheduled in the second half of 2019, we are optimistic about more geographic growth in the years after that will allow us to create new Rockwell communities in new markets, including one in Central Luzon”, Padilla added.