Written by Rizal Raoul Reyes / Correspondent
Wednesday, 23 September 2009 19:26
ROCKWELL Land will be relying on the domestic market to maintain its lofty position in the Philippine property market as it projects a 30-percent growth for the third quarter of 2009 as compared with the same period of last year.
In a recent interview with the BusinessMirror, Rockwell Land vice president for sales and marketing Valerie Lopez Soliven said the local market has proven to be a consistent growth driver for two continuous years for its projects.
“We project a 30-percent growth for the third quarter as against the same period last year. The local market has been driving our sales since 2007 and we believe it will continue on till the rest of the year,” said Soliven in an interview at the Rockwell complex.
“We’ve been exceeding our targets and the company thinks the third quarter of 2009 will have a stronger growth than the first half of the current year,” said Soliven.
She said Rockwell Land has been performing above expectation despite the global economic downturn, which affected many sectors of the Philippine economy. Soliven said one reason behind the steady growth of Rockwell Land is their buyers are not mainly the speculative type.
Soliven said the speculative buyers were heavily affected by the global financial crisis because the financial markets, primarily in the United States, collapsed and needed a bailout from Washington to be able to bounce back into the market.
“We’re very optimistic that our projects will be warmly accepted by the market,” said Soliven.
The former thermal power plant of the Manila Electric Co. was converted into a high-end commercial community by the Lopez group in 1995. The group started the redevelopment of Rockwell by simultaneously developing five high-rise luxury residential apartments.
Soliven said Rockwell Land has developed a strong branding in its One Rockwell project which the company expects to happen in the Grove project. All One Rockwell units were sold out two years ago.
Soliven said Rockwell Land is also enthusiastic on the buyers’ turnout on the Grove. The young working couples and professionals, according to Soliven, will be the target market of Rockwell Land for the Grove.
Soliven said the Grove is going to introduce green development in the center of the metropolis. “We will be implementing a 75:25 landscape-to-building ratio to give true meaning to green living,” she said.
The Grove is a big leap toward green living. In Rockwell, the landscape-to-building ratio now is 60:40. This means 60 percent was allotted to building space, while only 40 percent was allotted to open space. The reverse will be adopted in The Grove.
Soliven said the Grove will be a very good option for buyers looking for high-quality living but are having difficulty coping with the higher prices in Makati. “The Grove offers a lower price point of 25 percent than Makati,” she said.
Preselling of units in the Grove, according to Soliven, has been remarkable since it was introduced into the market in October last year. Rockwell Land is selling an average of 20 units per month for Towers 1 and 2. Units in the Grove will be priced at P85,000 per square meter.
She said Rockwell Land is confident the Grove is going to be a hit among young professionals because the company has already established an excellent brand in its niche market.
According to information at the company’s web site, Rockwell Land will be doing a pioneering act with the construction of the Grove because this will be the first major development along C-5’s 29-hectare corridor of properties “that will undoubtedly rise to form a stunning skyline across the city.”
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