Sta. Lucia seen topping record anew

Sta. Lucia Land Inc. is optimistic about posting another record year in 2024.

David dela Cruz, Sta. Lucia chief finance officer, said the company has been posting record performance in the past several years and 2024 will not be an exception.

“It’s still under audit so we’re not under liberty to disclose it. But it’s higher than 2023. Our challenge is 2025… because interest rates didn’t go down and then all of this talk about property slowdown, it affects the industry,” he added.

In 2023, Sta. Lucia closed the year with a profit of P3.73 billion, 8.74 percent higher than the prior year’s P3.43 billion.

Revenues grew by 8.47 percent to P8.45 billion from P7.79 billion.

Nine months into 2024, Sta. Lucia Land grew its profit by 4.4 percent to P3.3 billion from P3.16 billion the prior year, while revenues rose by 7.4 percent to P9.37 billion.

In a press statement on February 13,  Sta. Lucia said it was allocating as much as P5 billion as capital expenditure for the year to fund its expansion of landbank in Laguna, Batangas, Bulacan, Davao and South Cotabato.

For the year, the company looks at launching as much as 20 projects, mostly residential developments around the country.