Rockwell Land strengthens portfolio in office space Dev’t
Upscale developer Rockwell Land Corp. is well poised to capture a considerable share of the highly lucrative opportunities in the office property market, on the back of new projects that will come onstream within the year.
Coming from the successful completions of the Rockwell Business Center Ortigas in Pasig back in 2009 and 8 Rockwell in Makati in 2015, the company is now pursuing an expansion plan that will make available new office spaces at the Rockwell Business Center Sheridan in Mandaluyong, and the Santolan Town Plaza in San Juan.
According to Jesse Tan, AVP for office commercial development of Rockwell Land, the said expansion dovetails with current market conditions that are deemed favorable for offices.
“The current state of the office property market show continuous growth. It is foreseen given ongoing foreign direct investments and business process outsourcing expansions. Several property consultancy firms also show consistent data affirming the strong economic performance of the Philippines in recent years,” Tan said in an interview with the Inquirer.
The move to put up offices was said to be a natural course for Rockwell Land, which is now bringing its signature expertise in this segment of real estate development.
“After establishing the brand as a leader in residential projects for the high end and upper mid markets, it was only natural for the company to deliver the same signature brand of quality into office spaces,” he added.
Tan explained that the success of the Rockwell Business Center in Pasig made substantial contributions to the company’s recurring income base and had driven it, at that time, to pursue its second office project which was 8 Rockwell, located within the Rockwell Center.
“In terms of market conditions, there was a high demand for office spaces in Makati. These factors triggered the idea that it was the perfect time for us to further strengthen the Rockwell portfolio by bringing the distinguished taste seen in our residential towers to a premium office development. A world-class corporate tower perfectly ties up the Rockwell story in the heart of Rockwell Center,” he explained.
Currently, Rockwell Land’s office portfolio has approximately 150,000 sqm worth of leasable space. Rockwell Business Center Ortigas is 100 percent occupied while take up at the 8 Rockwell stood at 90 percent, comprising a mix of prominent local companies such as ANC News Studio and multi-national firms in the pharmaceutical, cosmetics and advertising industries.
Rockwell Business Center Sheridan’s North Tower recently topped off last December 2016 and the turn over of office spaces is expected to start within the second quarter this year.
“Being the premium office development of Rockwell Land, 8 Rockwell houses some of the countries prominent local and multinational corporations while also serving as Rockwell Land’s main headquarters. The Rockwell Business Center in Ortigas and the soon-to-rise Rockwell Business Center Sheridan are ideal for both traditional offices and outsourcing companies alike,” Tan noted.
“8 Rockwell offers premium office spaces along with first class retail selections such as high-fashion boutiques and gastronomic indulgences. (Both) the Rockwell Business Center Ortigas and soon, the Rockwell Business Center Sheridan have their own curated retail selections and lush amenity areas meant to give locators a relaxing and well-balanced working environment,” he explained.
This year, Rockwell Land will introduce a new subsidiary called Retailscapes Inc., which will bring to life a premium quality community development called Santolan Town Plaza.
Situated at the heart of San Juan, the Santolan Town Plaza will bring together dining, leisure and five floors worth of office spaces, within an expansive 1.4-hectare community development. It is envisioned to be the ideal neighborhood spot as everyday indulgences and lifestyle conveniences come together in a single destination for work and leisure.
A neighborhood grocery, cinemas and a curated selection of dining options and service amenities will cater to the surrounding community as well as our office locators. The project is scheduled for completion in the fourth quarter of 2017.
“Quality innovation and a sense of the Rockwell lifestyle are thoughtfully infused into all our commercial developments. Our patrons and locators have also commended us for constantly providing excellent customer service,” Tan said.
“Most of all, each commercial achievement along with any upcoming development embodies Rockwell’s constant desire to reimagine a tailored lifestyle of working and living,” he concluded.
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