Real estate sales fuel increase in Sta. Lucia Land's 2014 net income by 83 percent

MANILA, Philippines – Sta. Lucia Land Inc (SLI) earned substantially more in 2014 on the strength of its real estate sales.
In a disclosure to the Philippine Stock Exchange, SLI said it earned P548 million last year, an 83 percent increase from the P300 million in 2013. Real estate sales grew by 80 percent to P1.445 billion from P801 million over the same period.
According to SLI, bulk of the growth came from sales of the Colinas Verdes Residential Estates (San Jose del Monte, Bulacan), Monte Carlo Tower-Sta. Lucia Residence (Cainta, Rizal), Greenmeadows (Pavia, Iloilo) and Ponte Verde (Davao City).
Rental income from mall operations grew by a slower 3.4 percent to P255 million last year from P247 million in 2013. Growth came from mall expansion, the cost of which tempered the increase.
SLI has 43 projects, most of which are large-scale master-planned subdivision communities in emerging cities and provinces near Metro Manila.