By Neil Jerome C. Morales (The
Philippine Star) | Updated May 30, 2014 - 12:00am
MANILA, Philippines - Property firm
Sta. Lucia Land Inc. (SLI), riding on the strong tourism and business sectors
in the Mindanao region, is introducing a condotel brand in its master-planned
community project.
In a disclosure, SLI said it launched
SotoGrande Hotel Suites, a 15-story condotel project within the 60-hectare
Davao Riverfront Corporate City complex. SLI said the landmark project will
have 260 prime residential and commercial units.
To date, major tourist attractions
within the 60-hectare area of Davao Riverfront include the Crocodile Park,
Davao Butterfly House and Tribu K’ Mindanawan Cultural Village.
It is also home to St. Paul’s College,
one of Davao’s premiere schools, and Rancho Palos Verdes Sports and Country
Club, the first one-stop sports and recreation spot in Mindanao.
Other SLI projects in Mindanao include
the Ranchos Palos Verdes Sports and Country Club, an 18-hole, all-weather
championship golf course designed by world-renowned designer Andy Dye complete
with function rooms, clubhouse, basketball and tennis courts, swimming pool and
other amenities.
For the residential and commercial
segment, SLI is the company behind the Valley Verde, Ponte Verde, South Grove,
South Pacific, Altea Ciudades, Alta Monte Residential Estates, Ciudad Verde and
Las Palmas Verdes projects, all in Davao.
The 2,444-square kilometer Davao City
is home to 1.5 million residents. It enjoys strong economic growth partly
driven by tourism and recreational activities like retirement villages, theme
parks, agri-tourism parks, mountain and leisure resorts, and hotel and
convention facilities.
The property firm saw its profits
surge more than four times in the first quarter on the back of strong retail
sales.
SLI’s core earnings soared 362 percent
to P185 million from P40 million a year ago. Revenues in the first three months
spiked 94 percent to P556 million as real estate revenues were more than
doubled to P425 million while rental income rose 14 percent to P100 million.
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