Rockwell Land Corp., the upscale property developer of the Lopez group, has secured a P5-billion term loan of up to 10 years from BDO Unibank Inc.
“The proceeds of the loan will be used to fund capital expenditures, land acquisitions and other investment,” the company said.
It earlier bared a 2.85-hectare mixed-use community called the IPI Center by Rockwell, its third project in Cebu, featuring Rockwell Workspaces and a retail concept.
“We are looking forward to our newest Cebu project with the Wong and Castillo families of International Pharmaceuticals Inc., which is located in the heart of the city,” Rockwell chairman and CEO Nestor Padilla said.
“We’ll first offer residential units through Lincoln, inspired by the well-received Proscenium tower in Makati, and will soon be complemented by a retail area that we envision will excite the market,” he said.
Rockwell will also develop a new horizontal neighborhood in San Jose del Monte, Bulacan. The 100-hectare project is designed as a hillside escape and wellness retreat for its future residents.
The company will also pursue another project in Lian, Batangas as a premium horizontal beach community in the area.
