Sta. Lucia Land taps emerging cities to expand footprint

Property developer Sta. Lucia Land Inc. (SLI) has added 937 hectares of land to its development pipeline this 2016 through a mix of outright purchases and joint ventures.

“This is in line with SLI’s long-term plan to increase its nationwide geographic depth and breadth in its residential, commercial and tourism portfolios,” SLI said in a disclosure to the Philippine Stock Exchange on Monday.

“Majority of these properties are located in emerging cities adjacent to the company’s existing projects where it has a presence for over five years,” it added.

The biggest property deal entered by SLI for the year involved a total of 325.34 hectares of land in Region 4A or Calabarzon area, or the geographical block that includes the provinces of Cavite, Laguna, Batangas, Rizal and Quezon.

Based on the list disclosed by SLI, it has likewise established greater footprint in Davao, the new center of political power in the country, with an additional portfolio of 228.24 hectares.

The group likewise expanded in Iloilo, adding 153.37 hectares to its portfolio.

Within Metro Manila, SLI has added 1.95 hectares to its pipeline.

This year, the property also expanded its footprint in the following areas: Baguio (0.98 hectares); Pangasinan (43.05 hectares), Bulacan and Nueva Ecija (29.36 hectares), Palawan (41.21 hectares), Cebu (7.43 hectares), Zamboanga (28.63 hectares), General Santos (9.56 hectares) and Negros Occidental (67.79 hectares).

In the first nine months of the year, SLI generated a net income of P534.1 million, up by 4 percent year-on-year. Total revenues increased by 5 percent year-on-year to P2.37 billion.

Total assets for the period ending September amounted to P23.734 billion, rising by 11 percent year-on-year.