Rockwell Land Increases 2021 Net Income

Rockwell Land Corporation reported a 52 percent increase in its 2021 net income after tax (NIAT) compared to the previous year at its annual stockholders' meeting on May 25, 2022.

Photo Insert: The Manansala at Rockwell Center Nepo received very good reception with buyers from Pampanga, Manila, and abroad.

In 2021, the company disclosed a P1.6 billion NIAT to its parent and announced ten new projects across Luzon and the Visayas. This resulted in P23.5 billion in development revenues and a significant increase in reservation sales.

Among the new projects are a new horizontal development with Nara Residential Lots in Bacolod City; The Balmori Suites, a welcome addition to the flagship Rockwell Center in Makati; and The Manansala at Rockwell Center Nepo in Angeles City, Pampanga.

According to Rockwell Land president and CEO Nestor J. Padilla, “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.”

In 2021, revenue reached P12.4 billion and earnings before interest, taxes, depreciation, and amortization, or EBITDA, reached P4.3 billion across all business units. At P2.1 billion, commercial revenues remained unchanged. Foot traffic over the holiday season hit an all-time high since the pandemic began, with retail sales exceeding 80% of pre-pandemic levels.

This year, two new developments in the Visayas will add to Rockwell's growing footprint: the 2.8-hectare Rockwell IPI in Cebu City, which will be developed in collaboration with International Pharmaceuticals Inc., and the 30-hectare Rockwell Center Bacolod, which will include residential and retail developments as well as 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 added.

Other projects for launch include Edades West, a new premium residential tower at Rockwell Center in Makati.

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