Rockwell Land Inc., the real estate arm of the Lopez group, is returning to the bond market with a P20-billion fixed-rate corporate bond sale.
Rockwell said Friday its board approved the bond offering of up to P20 billion under a shelf registration. As an initial tranche, the property firm plans to offer P10 billion in fixed-rate bonds.
“Proceeds will be used to partially finance the company’s capital expenditures,” Rockwell said in a disclosure to the stock exchange.
Rockwell had earlier said it would accelerate its horizontal and geographic expansion due to strong market demand for premium developments outside Metro Manila.
In Cebu, the company is expanding its presence through the mixed-use IPI Center Done Rockwell, following the acquisition of an adjacent 7,500-square-metre lot. Rockwell also plans to launch a full-service hotel at Aruga Resort and Residences in Mactan.
The group spent P4.9 billion for project and capital expenditures in the first six months of 2025. Bulk of the expenditures pertained to land acquisitions and development costs, mainly for Edades West, Mactan and BenCab projects. These were funded mainly by internally generated funds.
Rockwell posted a consolidated net income of P1.91 billion in the first half of the year, or 2 percent lower than P1.94 billion in the same period last year.
First-half revenues amounted to P9.63 billion, up 8 percent from last year’s P8.8 billion. Residential development accounted for 78 percent of total revenues in 2025, higher than 76 percent last year.
The property firm said it remains “largely unaffected” by a reported condo oversupply in the market, which it said is “primarily concentrated in the mid-market projects which is different from Rockwell’s portfolio that mainly targets the high-end market.”
