Rockwell Land to launch Cebu project this year

by Kathleen A. Martin,

Posted at May 29 2013 11:13 AM | Updated as of May 29 2013 07:13 PM

MANILA, Philippines -- Rockwell Land Corp. will be launching a project in Lahug, Cebu City this year, its first development outside Metro Manila.

"[This] is our first upcoming, low-density [project] outside Manila, this is a three-hectare project in Cebu and it is strategically located only two kilometers away from the Cebu Country Club," Nestor Padilla, president at Rockwell Land, said during the firm's annual stockholders' meeting on Wednesday.

The firm will be pouring in P3 billion for the land and development cost of the project, and expects a total revenue contribution of P4.6 billion for the next four years.

Padilla, in a briefing following the annual stockholders' meeting, said the firm continues to look for other properties in the Cebu province.

"In Cebu, other than the first three hectares that we bought, we're looking for a bigger property," he recounted.

But he stressed "Metro Manila will continue to be the market that we will focus on."