Sta. Lucia buys more land, enters into new ventures

PROPERTY developer Sta. Lucia Land Inc. (SLI) is aggressively pursuing expansion, acquiring 36 properties in various provinces, the company said on Friday.
In a disclosure to the Philippine Stock Exchange, SLI said it acquired properties in the provinces of Batangas, Laguna, Palawan, Cebu, Iloilo, and Zamboanga City.
The acquisitions translate to 125.35 hectares of land, according to SLI.
The company also said it has sealed four joint venture deals involving 87.65 hectares of land in Palawan, Rizal, Antipolo City, and Negros Occidental.
The transactions come on the heels plans to grow and expand SLI’s business in key cities and provinces.
“This brings to a total of 1.824 million square meters of joint venture agreements and 2.212 million square meters of land acquisitions for year 2016 to date,” SLI said.
SLI earlier said it acquired 53 properties or 968,962.47 square meters in Pasig City, Laguna, Cavite, Batangas, Tagaytay, and General Santos City.
It also executed 10 joint venture deals to develop 947,533.62 square meters in Cavite, Laguna, Batangas, Rizal, Iloilo, and Cebu.
The previous acquisitions and joint ventures were funded by its P4-billion maiden bond issuance, SLI noted.
SLI Vice President for Strategic Planning and Investor Relations Jeremiah Pampolina noted the focus is on the core business of horizontal developments.
“We are sticking to our core business of developing and marketing horizontal residential and commercial real estate nationwide,” Pampolina said.
“We are, however, also strengthening other complementary assets such as our plans to expand our retail commercial portfolio,” Pampolina added.