Property

Rockwell Land eyes more outside capital: Bacolod, Pampanga, Cebu, Iloilo

Rockwell Land Corp. is looking to develop more properties outside the National Capital Region amid the coronavirus disease 2019 (Covid-19) pandemic.

During the company’s annual stockholders’ meeting Friday, the company shared changes in its plans brought about by market needs during the pandemic.

Seeing an increase in demand for horizontal living spaces with wide open areas, it is transitioning developments in Bacolod to offer more lots.

“We will continue to build beyond ordinary communities. The shift in market behavior because of the crisis has led to make changes in our plans to deliver more exciting developments. This includes a new 30-hectare self-contained inner city mixed-used development in Bacolod set to launch in 2021,” Rockwell Land’s chief revenue officer Valerie Soliven said in a statement.

Rockwell Land president and chief executive officer Nestor Padilla also announced the development of more safe Rockwell communities in Cebu and Iloilo, plus a possible joint venture expansion project in Pampanga, in the future.

The company has developments in Metro Manila, Laguna, Batangas, Cebu and Bacolod.

Rockwell reported a 40 percent decrease in revenues for the first half of 2020 against last year. Quarantine restrictions have limited operations for residential and retail.

Office development revenues grew by 6 percent in the first half of 2020.

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