By Justine Irish D. Tabile | BusinessWorld
February 3, 2023
A SUBSIDIARY of listed Roxas and Company, Inc. (RCI) will launch real estate projects in the Tagaytay to Nasugbu, Batangas corridor, banking on strong demand and accelerating prices for properties in the area.
“Roxaco Land Corp., a subsidiary of (RCI), ushered in 2023 with an aggressive expansion program in its real estate and hospitality units,” the listed RCI said in a filing with the local bourse on Thursday.
Aside from the growing demand in the area, RCI said Nasugbu, Batangas has been identified as a prime destination and as an access point into Western Batangas from the metro.
The company also expects the planned extension of the Cavite-Tagaytay-Batangas Expressway and the emergence of the Cavite-Batangas Expressway alternative route to push the destination’s growth as it will reduce the travel time from Metro Manila to Nasugbu to just over an hour.
“Roxaco resumed land development and construction of sold units in its low cost and mid-market open lot and housing projects in Nasugbu. These were stalled during the pandemic but are back on track,” the company said.
Meanwhile, in Tagaytay, Roxaco is set to launch a low-density development project called Anya Villa. This project will be targeting the higher-end segment.
“The success of the Roxaco-owned Anya Resort Tagaytay gave rise to a strong brand for boutique residential resort developments that can be replicated throughout the country’s many prime tourist destinations,” RCI said.
Aside from these, Roxaco is also planning to implement phased renovations in its hotels and targeted marketing programs to strengthen its customer proposition, as it welcomes the recovery of local travel and tourism.
“RLC is leveraging on the recovery of local travel and tourism, boosting occupancy levels in all of its budget hotels located in Metro Manila. Guests are returning and pushing bookings to near pre-pandemic levels,” RCI said.
On Thursday, RCI shares closed at 55 centavos apiece, down by three centavos or 5.17%. — Justine Irish D. Tabile