Rockwell Land Corp. owned by the Lopez family, reported a 40 percent jump in net income to P2.3 billion in 2022, .boosted by strong revenues from its residential and commercial segments.
Revenues rose 30 percent to P16.5 billion with the residential development segment accounting for 74 percent.
Sales of condominium units increased by 19 percent to P12.2 billion due to higher project accomplishment and sales bookings.
Commercial development revenues surged 77 percent to P4.3 billion, largely driven by leasing income.
The company’s reservation sales also jumped 52 percent year-on-year to reach P21.2 billion, driven by new launches and higher sales from existing projects.