STA. LUCIA Land, Inc. is working on more expansion projects in Iloilo, bringing its total footprint in the province to 262 hectares.
In a disclosure to the Philippine Stock Exchange on Friday, the property developer revealed four expansion projects in Greenmeadows, Metropolis Executive Village, Nottingham Villas, and SotoGrande Iloilo in Jaro, along with a new development in Sta. Barbara.
Sta. Lucia will develop the 172-hectare Greenmeadows into a regional hub with a community mall, mid-rise condominium, and business process outsourcing office buildings. The 51-hectare residential community Metropolis Executive Village, meanwhile, will expand by six hectares.
The company is expanding the three-hectare Nottingham Villas, consisting of prime commercial areas and residential townhouse units, as well as the six-storey SotoGrande Iloilo hotel within Greenmeadows.
The new project underway in Sta. Barbara will span 30 hectares. It was recently approved by the company’s board of directors to further expand and provide residential communities in Iloilo.
The Sta. Lucia Group first ventured into Iloilo province with the development of the Metropolis Executive Village, covering 511,637 square meters of land. Its footprint has since expanded to 262 hectares, including the latest expansion projects.
“We are committed for long term growth in the Philippines, especially in emerging cities and provinces like Iloilo,” Sta. Lucia Vice-President for Corporate Planning and Investor Relations Jeremiah T. Pampolina said.
“We have invested here for the past two decades and we will continue to invest and contribute to nationwide development because the Philippines is our home,” he added.
Sta. Lucia earlier announced plans to develop more office spaces for business process outsourcing locators, retail areas and malls, factories and warehouses, schools, public and private projects, and tourism/leisure developments, among others.
The company has initially identified five commercial projects for development, namely Sta. Lucia Business Center in Pasig City; Neopolitan Business Park in Fairview, Quezon City; Greenmeadows in Iloilo; Ponte Verde in Davao; and Davao Riverfront Business Park.
The commercial developments align with Sta. Lucia’s thrust toward increasing its recurring revenue stream to eventually account for 40% of total income within the next three years.
Shares in Sta. Lucia closed a centavo or 0.93% lower at P1.07 apiece on Friday.