Sta. Lucia allots P500 M for Negros project

MANILA, Philippines -  Listed property developer Sta. Lucia Land Inc.(SLI) is spending around P400-to P500-million for the development of a residential community in Negros Occidental.

In a press briefing yesterday, SLI presented its La Alegria project, a 67-hectare masterplanned lake residential community in the city of Silay in Negros Occidental, which offers residential and commercial lots.

La Alegria features a total of 1,101 residential lots which range from 150 to 300 square meters, and as well as 83 commercial lots measuring 500 to 1,000 square meters.

Prices of lots start around P4,000 to P5,000 per sqm., SLI said.

The project will be developed through a joint venture with Negros-based real estate firm Claudio Lopez Inc.(CLI), and will be marketed by Orchard Property Marketing Corp.

“There is a growing interest in Silay given the number of planned and ongoing infrastructure projects in the area such as the new airport and the proposed theme park,” SLI president Exequiel Robles said.

“We are aware of the Negrenses’ love for knowledge and appreciation for the arts thus, what we aim to bring them is a development that would pay homage to the city’s rich heritage and culture,” Robles said.

He added that the project offers buyers value for money because of its prime location and as well as its key features and amenities.

Among the unique features of the project are the 5.7-hectare man-made Lake Aurora, a light house and the Paradise Island, which will have its own swimming pool, gazebo and picnic area.

“For our part, we are positive that through La Alegria, we are able to provide the market not only a wise, practical investment, but also one that would continue to appreciate value overtime,” Robles said.

CLI general manager Michael Valderrama said SLI’s first project in the Negros Island would help create jobs for the locals.

La Alegria is slated to break ground on Sept. 8, and is targeted to be completed in one year.

Valderrama said the firm expects to sell out all the lots of the project in three years.

Last year, SLI beefed up its project pipeline when it acquired and partnered with landowners for properties amounting to 937 hectares.

In February this year, SLI acquired eight more properties measuring 10.03 hectares and sealed nine joint venture agreements for the development of 139.28 hectares of land in emerging cities such as Cavite, Batangas, Rizal, Palawan, Iloilo, Cebu and Davao.