Real estate companies experience good sales in the ultra-high-end segment, Rockwell Club President Manuel Lopez Jr. said.
“I think, if you look at the ultra-high-end (projects), I think we’re doing good. I think there’s still demand,” Mr. Lopez said. “You’d think that during COVID, there’s no sales; people are just home and there’s nothing. But (our) sales, we did very well.”
He added that Rockwell Land Corp.’s new projects continued to experience good sales.
There is still a good demand (in the real estate sector), especially in the ultra-high-end segment, Mr. Lopez said.
Rockwell Club President Manuel Lopez Jr.
With the bright prospects, Rockwell Land Corp. is looking at Cebu and other areas outside Metro Manila for real estate development. ‘It’s important that we focus not just in Manila but also other areas,” Lopez said.
The company first came to Cebu to develop the 32 Sanson Road by Rockwell, a 3.2-hectare master-planned development in Barangay Lahug, Cebu City, according to Rockwell Club President Manuel Lopez Jr. It consists of elegantly constructed residential buildings.
“We are now on our third tower (at 32 Sanson Road). The Sillion is now almost completed,” Mr. Lopez said in an interview.
The company has another ongoing project in Cebu – the Aruga Resorts and Residences-Mactan. The project is located at a 5.2-hectare property with a 270-meter-long beachfront and views of the Hilutungan Channel and Magellan Bay. It will feature residential and hotel components.
“We have villas facing the beach and our residential tower is up. The first phase will be complete in December 2024,” Lopez said.
The company’s third project is IPI by Rockwell, a 2.8-hectare community located along Pope John Paul II Avenue in Cebu City. The joint venture project with Wong and Castillo families of International Pharmaceuticals Inc. is a mixed-use development with office and residential towers, and retail spaces.
The IPI by Rockwell will also feature a mall patterned after those in Bangkok and Singapore “so we can put something different for Cebu for this project,” Lopez said.