Late last year, the 44-year-old property developer Sta. Lucia Land Inc. (SLI) successfully raised P4 billion worth of unsecured fixed-rate peso bonds.
This major milestone in the group’s over four decades of history puts it in a better position to achieve a more aggressive yet sustainable growth over the years, according to David dela Cruz, SLI EVP and chief financial officer.
He said part of the proceeds was immediately used to secure strategic locations (land banking) and to actively seek new joint venture partners.
Dela Cruz noted that as the country’s population moves both from the old central business districts to more suburban locations and from larger suburban homes to “down-sized units,” there becomes a new demand for residential developments that incorporate retail, restaurant and entertainment venues.
Dela Cruz said: “This is why SLI is continuously going into key cities nationwide like Dagupan City, Calabarzon area, Iloilo (like the 8.6 hectare Acropolis Iloilo); Cebu (the 14.5 hectare Crown Heights) Palawan; General Santos City; and Davao (the 14-hectare Alta Monte) to lay the foundations for future mixed-use developments.”
He added that thanks to technological interventions, innovative building materials, fast construction methodologies, and quality products, developers like SLI are able to fulfill the need for affordable housing in the Philippines.
In a way, Dela Cruz said SLI is among the developers helping to prevent the proliferation of slum communities.
“Families now have the option to finally have a home that is within their financial capacity to pay and live in community that is more progressive, secure and well-provided with basic amenities (good roads, clean water and electricity),” he said.