By Zinnia B. Dela Peña (The Philippine Star) Updated October 05, 2010 12:00 AM
MANILA, Philippines - Sta. Lucia Land Inc. (SLLI) is rolling out six new projects before the year ends as part of an aggressive expansion binge aimed at further strengthening its presence across the country.
In a statement, SLLI said the new projects will rise in the fast-developing areas of Davao, Cavite and Cainta in Rizal province. Included in these projects is a joint venture with the Enrile family’s Jaka Properties, The Mesilo Residences which will rise on a 150-hectare property in Trece Martires, Cavite.
The first phase of Mesilo Residences involves a 30-hectare contemporary residential development along Aguinaldo Highway.
Other projects to be launched before yearend are the 17-hectare South Grove, a high end residential subsidivision in Davao in partnership with landowner JS Gaizano Inc.; Luxurre Residences in Alfonso Cavite near Tagaytay and Sugarland Residential Estates also in Trece Martires.
The company will also start the development of two condominium projects —East Bel-Air Residences (a six-building mid-rise development with country club along Imelda Avenue in Cainta) and Sta. Lucia City (a five-building, one hectare expansion of its already vast Sta. Lucia Grand Mall).
The Sta. Lucia City redevelopment will include the first two of five mid-rise condominium buildings designed by noted architectural firm W.W. Coscoluella.
“We are launching these projects before the year ends to answer the needs for quality realty projects of the public in these areas. We received good feedback from our previous projects that we intend to keep on doing what we do best in all our real estate developments,” do best in all our real estate developments,” SLLI president Exequiel D. Robles said.
The French-inspired Luxurre Residences will be built on a 10-hectare property that will also include a commercial component.
Sugarland, meanwhile, is an 80-hectare residential development with an American contemporary style. This is in joint venture with Highpoint Property Group.
“SLLI also currently has some projects in the planning stage and we guarantee that the public can look forward to more state-of-the-art realty developments from us that suit their every need and lifestyle,” Robles said.
SLLI is aggressively expanding its reach in preparation for its planned follow-on offering of shares. Its parent company Sta. Lucia Land Realty and Development Inc. (SLRDI) is subscribing to P10 billion worth of new shares of SLLI through the capital hike via a property-for-equity swap.
The company’s shares have been on an upward trend since August, closing 9.2 percent higher yesterday at P2.37 apiece.
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