Rockwell Land sets P10-B capex

Rockwell Land Corp., the property development arm of the Lopez Group, has allocated P10-billion for capital spending this year, part of which will be used for the listed firm’s first venture into the hotel and leisure business.

In a briefing on Wednesday, Rockwell Land Chief Financial Officer Ellen Almodiel said the company has expanded the amount of capital expenditure (capex) for the entire 2014 from the P7.5 billion it spent last year.