By: Doris Dumlao-Abadilla
Philippine Daily Inquirer / 11:39 AM September 18, 2017
Property developer Sta. Lucia Land Inc. plans to tap the capital markets to fund around P15 billion in capital spending for the next three to five years.
After raising over P8 billion in the past two years from the local debt market, SLI told the Philippine Stock Exchange on Monday that it’s laying the foundation to ensure long-term growth.
Since 2015, SLI has aggressively increased its development pipeline by acquiring over 658 hectares of landbank while entering into joint venture agreements covering over 991 hectares.
SLI has since then established its presence in varying locations including: Pangasinan, Bulacan, Marikina, Quezon City, Pasig City, Cavite, Laguna, Batangas, Rizal, Quezon province, Palawan, Negros Occidental, Iloilo, Cebu, Zamboanga City, General Santos City and Davao.
Total capital spending to develop these properties is estimated at P15 in the next three to five years. Projected investments will also include the development of more retail, commercial and tourism-related establishments to complement its residential developments.
Along with the parent company Sta. Lucia Realty & Development Inc., the group has 220 subdivision developments covering over 10,000 hectares of land nationwide. The portfolio also includes large-scale masterplanned residential estates and over 14 golf courses.
SLI’s entry into retail, commercial and tourism related developments is meant to cater to communities formed in over 45 years of the groups’ history. The company intends to leverage on its experience in retail from its current 200,000-square meter mall in Cainta, Rizal.
“SLI intends to tap both the debt and equity markets to partially finance this growth,” the disclosure said.