Rockwell Land Corp., the listed property developer of Lopez Inc., reported a 67 percent increase in net income attributable to the parent company for the first quarter, driven by residential sales and recognition of revenue from the Alabang Commercial Center (ACC).
Net income attributable to the parent company in the January-March quarter rose to P1.29 billion from P773 million in the same period last year.
Consolidated net income likewise rose 52 percent to P1.43 billion from P943 million.
The company said the strong performance was driven by a 45 percent year-on-year increase in consolidated revenues, which climbed to P6.46 billion from P4.46 billion in the first quarter of 2025.
Residential development contributed 75 percent of total revenues, while commercial development accounted for the remaining 25 percent, excluding joint venture shares.
Total earnings before interest, taxes, depreciation, and amortization grew 42 percent to P2.72 billion from P1.92 billion, with residential and commercial segments contributing 60 percent and 40 percent, respectively.
Residential development revenues rose to P4.85 billion, supported by real estate sales and project accomplishments from Edades West and Cabo San Diego.
Meanwhile, commercial revenues surged 55 percent to P1.60 billion, largely driven by the start of revenue recognition for ACC. Retail operations generated P1.14 billion, up 74 percent from a year earlier, buoyed by higher occupancy rates, improved rental yields, and the integration of the Alabang assets.
Despite ongoing market challenges, the company said steady demand for premium integrated communities continues to underpin growth in the real estate sector.
Following its strong first-quarter performance, Rockwell Land said it remains focused on expanding developments across key cities and emerging growth areas nationwide.
