MANILA - Real estate development company Rockwell Land announced it has 500 hectares in land bank to help drive growth for the company in the next five years. 

This was after the company hit P3.1 billion net income after tax in 2023, surpassing its pre-pandemic level.

At its online Annual Stockholders Meeting, Rockwell Land Chairman and Chief Executive Officer Nestor Padila said the company will pursue more projects outside of Metro Manila due to the huge potential of horizontal developments.

“We are elated to have entered this year with land bank totaling to 500 hectares, five times more than five years ago. About 90 percent of our land bank is located in the key cities of Pampanga, Laguna, Batangas, and Bulacan. Our current presence in these strategic sites has given us the optimism to develop more products, allowing us to excite our core market with new offerings,” he said.

Among the new projects expected to be launched this year are the 100-hectare The Samanean at Paradise Farms in San Jose del Monte, Bulacan and the Lauan Ridges in Lipa, Batangas. Other projects in other provinces are also continuously being developed.

In 2023, 78 percent of revenues were from developments in Metro Manila - which includes Rockwell Center in Makati, and the company now hopes the provincial share will increase in the years to come.

“Our commitment to regional development remains steadfast, as evidenced by our ongoing expansion and development efforts in the provincial areas. With projects underway in Bulacan, Pampanga, Batangas, and the Visayas, we anticipate significant increases in revenues outside of the NCR in the coming periods,” said Valerie Jane Soliven, Rockwell Land President and Chief Operating Officer.

She added that the company is also seeing growth beyond the residential business, as retail and office spaces are also growing. 

“This diverse mix of establishments, supported by regular promotions, events and digital communications, has collectively surpassed pre-pandemic in sales, rental rates, and foot traffic. Rockwell Workspaces had notable office sign-ups as well from different businesses like consulting firms, BPOs and pharmaceutical companies in 2023.”

Aside from hitting the pre-pandemic level in terms of net income after tax, it also hit P18.5 billion in revenues in 2023 and P6.8 billion in EBITDA (earnings before interest, taxes, depreciation and amortization).

Rockwell Land is part of the Lopez Holdings Corporation, which ABS-CBN Broadcasting Corp is also a part of.

news.abs-cbn.com is the official news website of ABS-CBN.