Rockwell invests P2B in Cebu

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Thursday, February 6, 2014


PROPERTY developer Rockwell Land has finally entered Cebu with their 32 Sanson residential project as its introductory development outside Metro Manila.

The P2-billion project will sit on a 3.2-hectare property in Lahug, where a furniture factory owned by the Aboitiz family used to operate. Rockwell bought the land in 2012, said 32 Sanson general manager Paolo Ernesto V. Reyes.

Rockwell president and chief executive officer Nestor J. Padilla told Sun.Star Cebu in a separate interview that the company has chosen to build in Lahug because of its proximity to vital business districts and prominent schools, "while at the same time remaining tranquil and private."

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The 32 Sanson project will introduce Rockwell's low-rise development, which Reyes said has been matched to its surroundings, encircled with greenery. Reyes said there will be five structures of five floors each; all are set to be completed in 2016.

Natural

“Rockwell’s expansion outside of Manila was a natural step following our expansion throughout Metro Manila. After the positive reception Rockwell received in Ortigas, Quezon City, and San Juan, we were truly eager to venture out regionally,” said Padilla.

Rockwell has already completed eight residential projects since it started in the 1990s. Currently, it has six ongoing residential developments. The developer has also ventured into commercial developments, with two already completed and one ongoing project, still concentrated in Metro Manila.

“The vibrant city of Cebu has always been attractive to Rockwell. Its booming economy, relaxed lifestyle and lively personality was something Rockwell sought to participate in,” Padilla replied when asked why it tapped Cebu for its 32 Sanson project. He added that the increasing number of new developments in the province has also pushed them to consider investing here.

Prior to the launching of 32 Sanson, which is set on February 25, the developer has already sold 10 percent of the total number of units.

Investors

The development targets the high-end market. It is also eyed not only for end-users but also for investors who are planning to invest in Cebu.

Padilla said the company has a homegrown residential leasing team that will ensure its investors, who are leasing out their units, see positive yields. They also have a property management team that will assure unit owners that their properties will remain pristine even years after the turnover.

The condominium has 355 units with floor areas ranging from 64 square meters to 144 square meters. Reyes said buyers may choose from among one-bedroom, two-bedroom, and three-bedroom residences. There is also an exclusive selection of garden units at the ground level. Prices range from P7 million to P20 million.

Padilla said the company is looking out for "more opportunities" to build in Cebu. Reyes said Rockwell is also eyeing expansion in Davao.

Track record

Rockwell Land of the Lopez' family is popular in Metro Manila for developing the Rockwell Center, a self-contained and mixed use development that incorporated the construction of high-rise residential towers, upscale shopping mall, office spaces, exclusive city club, and a graduate business and law school.

Its completed residential projects include Rizal Tower, Hidalgo Place, Amorsolo Square, Luna Gardens, The Manansala, Joya Lofts and Towers, One Rockwell, Edades Tower and Garden Villas, The Grove by Rockwell Towers A and B, and 205 Santolan by Rockwell.

Its six ongoing residential projects include 205 Santolan by Rockwell, The Grove by Rockwell Towers C to F, The Proscenium, 32 Sanson, and 53 Benitez by Rockwell Primaries.

Published in the Sun.Star Cebu newspaper on February 07, 2014.

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