By Jenniffer B. Austria | Apr. 22,
2015 at 11:00pm [ manilastandardtoday.com ]
Sta. Lucia Land Inc., the property
developer controlled by businessman Exequiel Robles, said it plans to borrow P6
billion to expand real estate projects across the country.
SLI said in a disclosure to the stock
exchange the board authorized the company to issue debt instrument worth P6
billion for land bank acquisitions, acceleration of ongoing projects and
funding of new projects.
SLI said it was poised to capture the
country’s remarkable economic performance, with plans to accelerate expansion
outside Metro Manila.
SLI recently signed 16 joint venture
agreements in Davao, Rizal, Pasig, Batangas and Laguna for a total of 142.33
hectares of land. It also acquired
properties in Batangas and Iloilo covering 34.53 hectares.
The company said following the
acquisition of new properties, the board also approved the development of new
housing projects in the said areas.
The company recently formed a
wholly-owned unit called Sta. Lucia Homes Inc., a contractor company whose sole
purpose is to offer construction services to the SLI group’s over 120,000 lot
buyers.
The company said more than 60,000 lots
buyers nationwide have yet to build their houses.
SLI reported an 83-percent increase in
net income to P548 million in 2014 from P300 million in 2013, as real estate
revenue jumped 80 percent to P1.44 billion from P801 million.
Majority of the growth came from the
sales of Colinas Verdes Residential Estates (San Jose Del Monte, Bulacan),
Monte Carlo Tower - Sta Lucia Residenze (Cainta, Rizal), Greenmeadows (Pavia,
Iloilo) and Ponte Verde (Davao City).
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