Sta. Lucia borrowing P7 billion for expansion

MANILA, Philippines —  Sta. Lucia Land Inc., the flagship property development arm of the Robles and Santos families’ Sta. Lucia Group, intends to borrow over P7 billion from local financial institutions to refinance existing loans and support its continuing expansion.

Sta. Lucia said its board approved resolutions authorizing the company to secure loans and credit facilities from various financial institutions.

These include loans of up to P4 billion from China Banking Corp. and up to P1.5 billion from BDO Unibank Inc.

The company has also been authorized to obtain a credit line facility of up to P200 million from Unicapital Finance and Investments Inc., as well as a short-term loan facility of up to P1 billion from several creditors through Unicapital Inc.

Further, the company is seeking a loan of up to P520 million from CTBC Bank (Philippines) Corp. and a credit line facility of up to P100 million from Sterling Bank of Asia.

As part of its continuing expansion, Sta. Lucia is targeting the acquisition of a parcel of land in Laguna measuring 465 square meters.

It is also working to enter into joint ventures to develop projects in Pangasinan, Laguna, Cavite and Pasig.

Sta. Lucia has earmarked P5.93 billion for capital expenditures this year to support the continued development of existing residential and commercial projects and fund new ones.

Through its investments in project development and land acquisitions, Sta. Lucia aims to become the country’s top real estate company not just in size, but also in quality projects, growth, returns and innovation.