Rockwell Land Corporation, the property development arm of the Lopez-led Rockwell Group, posted a 67% jump in its first-quarter net income, driven by strong residential and commercial sales.
The company reported a net profit of PHP 1.2 billion for the period from January to March, up from PHP 718 million in the same quarter last year. Revenues rose 45% to PHP 4.5 billion, fueled by higher reservation sales and project completions.
"Our first-quarter performance reflects the sustained demand for our premium developments and the improving economic environment," said Nestor Padilla, president of Rockwell Land. He attributed the growth to the company's focus on prime locations and quality projects.
The firm's residential segment accounted for the bulk of revenues, with new launches in Makati and Quezon City performing well. Its commercial leasing business also benefited from higher occupancy rates across its office and retail spaces.
Rockwell Land remains optimistic about the rest of the year, citing a healthy pipeline of projects and a strong balance sheet. The company aims to launch additional developments in the second half of 2025, targeting both the luxury and mid-market segments.