Rockwell Land sees Bacolod as a future property hotspot after recently topping off the first residential tower at its inaugural development in the region. One Nara is a modern residential project inside Nara Residences that contains retail areas and open spaces. Units will be turned over to residents in 2023.
Rockwell Land President and Chief Executive Officer Nestor Padilla attended the ceremony which is a major milestone for both the project and development as a whole. With Nara Residences nearing completion, the firm is now turning its attention to the upcoming launch of Rockwell Center Bacolod.
The massive mixed-use estate spans 30 hectares and features residential, commercial, office, retail and leisure elements. Rockwell Business Park is the project’s first phase and will contain commercial lots for sale.
Prior to the outbreak of COVID-19, a surging local economy had help establish the Bacolod property market as a potential hotspot. Colliers International Philippines found that demand for house and lots was robust here with OFWs and investors looking to acquire homes. The expectation is the trend will resume with the country moving on from the pandemic.
Rockwell Land looks beyond Manila
Last year saw Rockwell Land enter the Pampanga property market with the launch of a mixed-use development in Angeles City. The project is a joint venture with Juan D. Nepomuceno Realty Group as the pair work to tap into this up-and-coming province in Central Luzon.
According to a report in the Manila Standard, the first residential building will be completed in 2025 with the remainder of the project to be launched in phases. This is the first mixed-use development outside Metro Manila from Rockwell Land but will now be joined by the Bacolod estate.