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Rockwell, TGN Realty Ink Deal To Develop Land In Pampanga

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Lopez-led Rockwell Land Corp. on Wednesday said it signed a joint venture agreement with the Nepomuceno Group’s TGN Realty to develop a 3.6-hectare mixed-use property in Angeles City, Pampanga.
The said deal was forged after the two firms were able to secure the green light from the Philippine Competition Commission (PCC) on October 20.

​In a statement late Tuesday, the PCC said it authorized the joint venture of Rockwell Land Corp., TGN Realty Corp., Nepwell Property Management Inc. and siblings Hilda Aurora N. Valdes, Patrick Adrian N. Valdes and Theresa Gracia N. Valdes.
According to the PCC, the transaction will not result in the substantial lessening of competition in real estate market in Pampanga or nationwide. As to why, it explained the joint venture was formed for the sole purpose of developing the land in the province.
“We are excited to build a new Rockwell community in Pampanga through our joint venture with the family behind the successful Nepo Center,” Rockwell Land President Nestor Padilla said.
Rockwell said its project will have 3 residential towers complemented by a retail component which is poised to be the Power Plant Mall in Angeles, the first Rockwell mall outside Metro Manila.

It will be similarly designed to the Rockwell Center in Makati, such as the the residential towers and the mall will be connected via an underground passageway for the community’s convenience.
The new Rockwell residential community is targeted to launch in the second half of next year. It will feature a central clubhouse.
Each tower will be 10 to 15 storeys with units ranging from one-bedroom to three-bedrooms sized between 44 square meters and 142 square meters.
The residential towers are expected to bring revenue of P6.7 billion, Rockwell said.
The Nepomuceno Group is into education, utility services and real estate. Their 15-hectare flagship project, the Nepo Center in Angeles City’s central business district, features retail establishments Nepo Mall, Nepo Mart and NewPoint Mall as well as PEZA registered office towers eNtec1 and eNtec2.

Future development in the area can boast of improved accessibility with the completion of infrastructure including the expansion of the Clark International Airport and the North-South Commuter Railway that will connect Manila to Clark.
Rockwell said its consolidated net income in the January-to-June period fell 44 percent to P702 million from last year’s P1.26 billion.
Revenues for the period were down 40 percent to P4.14 billion from last year’s P6.93 billion, due to the quarantine restrictions imposed in Metro Manila and key cities in the Philippines where the company operates.
Residential development accounted for 80 percent of total revenues in 2020, slightly lower than last year’s 81 percent.
The company said the first half of 2019 figures were restated to reflect the impact of PFRS 15 mainly on cost of sales and interest expense and PFRS 16 on rent expense, depreciation and interest expense in order for the 2020 figures to be comparable.
For the second quarter alone, Rockwell registered a P32-million loss as against the previous year’s P538-million income.
Revenues for the period, meanwhile, reached P924 million, down by 73 percent from last year’s P3.44 billion, but mostly as a result of its interest income as other revenue streams were depressed.
https://businessmirror.com.ph/2020/10/21/rockwell-tgn-realty-ink-deal-to-develop-land-in-pampanga/

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  • Home
  • Properties in Pampanga
  • House and Lot
    • San Fernando >
      • Aspire Prime Residences
      • Amaia Scapes San Fernando
      • Bria Homes San Fernando
      • The Hauslands Pampanga
      • Park Place
      • La Aldea Fernandina
      • Horizon Residences
      • Montana Strands
      • Montana Views
      • Woodgrove Park
      • Sendara Plains
    • Mexico >
      • Lakeshore
      • Flavorscapes at Lakeshore
      • The Palms at Lakeshore
      • Berkeley Residences Pampanga
      • Camella Sorrento
      • Beverly Place
      • Fiesta Communities Mexico
      • Ajoya Pampanga
      • Amaia Scapes Pampanga
    • Angeles >
      • Nouveau Residences
      • Aldea Grove Estates
      • Mansfield Residences
      • Timog Residences
      • Deca Clark Resort Residences
      • Solana Frontera
    • Mabalacat >
      • Cheerful Homes
      • Austine Homes
      • Claremont
      • Fiesta Communities Mabalacat
    • Porac >
      • Alviera >
        • Corvia
        • The Greenways
        • Montala
        • Northdale
        • Greendale
      • The Arcadia
      • Camella Pampanga (Porac via Angeles)
      • White Plains Porac
    • Magalang >
      • Hamana Homes
      • Bria Homes Magalang
      • Phirst Park Homes
      • Highview Haciendas
    • Bacolor >
      • Hampton Orchards
      • Solana Casa Real
    • Minalin >
      • Highview Residences
    • Apalit >
      • Camella Apalit
    • Floridablanca >
      • Madison Homes
  • Condo
    • San Fernando >
      • Azure North
      • Capital Town >
        • Chelsea Park Place
        • Bryant Parklane
        • Montrose Parkview
        • Shophouse District
    • Angeles >
      • Rockwell Center Nepo Angeles
      • Now Residences
      • Bayani Hall Twin Towers Angeles
      • Jewel Residences
    • Clark >
      • Green Garden Clark
      • Besco Clark Residences
      • Golf Ridge Private Estate
  • Resale
  • Inquiry
  • News and Events
    • Revolution Precrafted pushes design democratization
    • Revolution properties has designer homes, now precrafted for ease of access and at a fraction of the cost
    • Your First Look At The Designer Prefab Homes Coming To Manila
    • World’s first livable art park is here
    • Century Properties to launch P10.6-billion projects through 2018
    • Century Properties’ 1st tourism project rakes in P1.7B sales
    • Precrafted homes to rise in Pampanga
    • PH company in $3.2-B deal with Dubai firm
    • Seven Tides seals $3.2bn deal to build luxury villas
    • Tie-up sealed for building homes, stores in Lakeshore
    • Robbie Antonio's Unicorn Startup Seals $3.2-B Deal to Build Luxury Villas in Dubai
    • Revolution Flavorscapes Launch
    • Robbie Antonio's Unicorn Startup Seals $3.2-B Deal to Build Luxury Villas in Dubai
    • Philippine unicorn Revolution Precrafted enters Myanmar in pact with KT Group | Revolution Flavorscape
    • Philippines' first 'unicorn' disrupts property business
    • BCDA AND JAPAN INK PARTNERSHIP WITH SURBANA JURONG OF SINGAPORE FOR FULL DEVELOPMENT OF NEW CLARK CITY
    • ​Revolution Flavorscapes at Lakeshore: The World's First Livable Food Park
    • September Update
    • Pampanga, a perfect place for investment – Enrile
    • Clark investments, attractions continue to increase
    • A Promising Real Estate Landscape in the City of San Fernando, Pampanga
    • Smart investments beckon in Pampanga
    • The 8 Best Investment Locations in the Philippines for 2020
    • The rise of the Pampanga megalopolis
    • Central Luzon new ‘epicenter’ for property investments
    • Central Luzon is top PHL investment destination
    • Central Luzon tops 2020 investments thanks to Bulacan airport project
    • The rise of Clark
    • ALI invests P18 billion in Tarlac City estate
    • ALI hits a ‘Cresendo’ of great excitement
  • Blogs
    • Revolution Flavorscapes Lakeshore
    • Revolution Flavorscapes in Lakeshore Pampanga
    • Revolution Flavorscapes at Lakeshore Mexico Pampanga
    • Revolution Flavorscapes Project Overview
    • Revolution Flavorscape
    • Grand Family Palooza August 11, 2018 event
    • Revolution Flavorscapes Lakeshore Pampanga
    • Rockwell Nepo Angeles
    • Beverly Place | Settle in Pampanga
    • Ajoya Pampanga |. Discover your home for life at our Ajoya developments!
    • Rockwell to bring luxury brand to Angeles, Pampanga | Rockwell Nepo
    • Rockwell gains foothold in Angeles, Pampanga | Rockwell Nepo
    • Rockwell eyes P6.7-b sales in Angeles City | Rockwell Nepo
    • ROCKWELL READIES ANGELES DEVELOPMENT | Rockwell Nepo
    • Rockwell, TGN Realty Ink Deal To Develop Land In Pampanga | Rockwell Nepo
    • Rockwell To Start Developing Angeles Project | Rockwell Nepo
    • Rockwell Land to develop Pampanga mixed use project | Rockwell Nepo
    • Rockwell to launch Pampanga project | Rockwell Nepo
    • Golf Ridge Private Estates | Filigree