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SLI jumps into housing devt business

Published on 18 December 2012
Written by MADELAINE B. MIRAFLOR
Publicly listed Sta. Lucia Land Inc. (SLI), a member of the Sta. Lucia Group of companies, recently incorporated new subsidiary as it plans to jumpstart its housing development business.
In a disclosure to Philippine Stock Exchange, SLI said that it has recently approved the incorporation of a subsidiary, Sta. Lucia Homes (SLHomes), to build houses on previously sold subdivision lots collectively developed by its parent company, Sta. Lucia Realty and Development Inc. (SLRDI) and SLI.
“SLHomes, majority-owned by SLI, will be focusing on house construction catering exclusively to Sta. Lucia lot buyers. With over 210 subdivision projects completed by the group over the past 40 years, including residential estates surrounding 10 golf course and country clubs, SLHomes will service a potential market over 100,000 sold lots,” the disclosure further added.
The company said, however, that their market will be limited to clients with fully paid lots which will eventually be converted into mortgages.
“In addition to being a new product line for the group, SLHomes will also help build communities in all our subdivision projects to further enhance their market values,” said Michael Robles, director of marketing and sales.
“Our range of units will cater to all our projects across different markets, from the low to mid market segments to high end subdivisions such as the Royale Tagaytay Estates, the Orchard Residential Estates in Cavite, the Alta Vista Residential Estates in Cebu and Rancho Palos Verdes in Davao, among others,” he added.
The group also said that it will aggressively promote house and lot packages as it continues to expand its horizontal project portfolio with its more than 40 joint venture partners.
In October, SLI already announced that it will join ventures with several corporations and individuals in the country.
In its previous disclosure to PSE, SLI said that they have approved during their meeting, the joint venture agreements with several corporations and individuals such as with Trillasun Realty and Development Corp., Sta. Lucia Realty Development Inc., and Royale Homes Realty and Development, among others.
SLI is considered one of the Philippines’ biggest real estate companies with over 10,000 hectares of land through 200 development projects throughout the country.
Sta. Lucia Realty is also a leading developer of golf courses in the Philippines, having developed the largest number of golf courses in the country.
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