Rockwell Land expands Power Plant Mall

Rockwell Land Corp., the listed property developer of the Lopez Group, is expanding its Power Plant Mall in Makati to bring in international retail brands that are not yet available in the Philippines.

“The Power Plant Mall will be more exciting than ever with its expansion fully underway,” said Rockwell Land president Nestor Padilla.

He said the company would add 54 new stores that would carry international and local retail brands.

Some of the new stores are set to open in the next two to three months.

In San Juan, Rockwell is also putting up its first standalone commercial project which would have five floors of office and three floors of retail.

This is due for completion by September 2017.

The company is also set to open the second Rockwell Business Center in 2017.

“The second Rockwell Business Center is set to open in 2017, located at the corner of United and Sheridan Streets in Mandaluyong City. This would add 48,000 square meters of leasable space to our current office portfolio of 95,000 square meters,” Padilla also said.

In all, these projects are expected to add an annual recurring EBITDA of approximately P480 million starting 2018, the Rockwell Land chief also said.

Aside from its commercial and office space expansion, Rockwell is also expanding its residential portfolio with the launch of three projects before the end of the year.

One is the Edades Suites in Makati, which will complement the Edades Tower and Garden Villas as a graceful expansion of a few very private and exclusive units.

Second, the Vantage’s East tower under the Primaries brand will be a popular choice because of its strategic location in the heart of Kapitolyo in Pasig City.

Lastly, East Bay Residences Tower 1, also under the Primaries brand, will offer modern conveniences in a gated community village setting in Paranaque City.

“All these launches are expected to contribute 34 percent of total reservation sales for the year,” Padilla said.

In 2015, Rockwell posted a net income of P1.6 billion or five percent higher compared to prior year.