Sta Lucia expands IL Centro mall

MANILA, Philippines - Property developer Sta. Lucia Land Inc. (SLI) has upgraded further its existing upscale shopping mall in eastern Metro Manila with the completion of its expansion phase.

Called IL Centro, the two-level expansion mall will bring SLI’s  total mall gross floor area in Cainta, Rizal to 230,000 square meters, the real estate firm said in a disclosure to the Philippine Stock Exchange yesterday.

 “IL Centro is envisioned to be the upscale shopping mall for the growing needs of the middle class living and working in the area,” SLI said.

SLI’s Sta. Lucia East Grand Mall was the first shopping complex which catered to the communities of Pasig, Cainta, Marikina and Antipolo in 1991.

The expansion mall will bring in an additional 50,000 sqm of floor area for shopping complex and ample parking space.

 “IL Centro is at the heart of a business and leisure hub in the eastern part of Metro Manila, serving the cities of Pasig, Marikina, Antipolo and the municipality of Cainta. IL Centro is also strategically located near the country’s top schools, major hospitals and churches,” the property firm owned by the Robles and Santos families said.

IL Centro is located within SLI’s planned five-tower development called Sta. Lucia Residenzes.

SLI said the first of the Mediterranean-inspired towers, Monte Carlo, is nearing completion while the second tower, Santorini, has just started construction.

The company said residents and guests of Sta. Lucia Residenzes will have easy elevator access to IL Centro.

 “Sta. Lucia continues to focus on its core business as a nationwide developer of subdivision lots targeting the middles class in emerging cities and the opening of IL Centro is a strategic complement to its growing customer base,” said Jeremiah T. Pampolina, SLI vice president for corporate planning.

SLI president and chief executive officer Exequiel D. Robles earlier said SLI is also eyeing to put up a new mall in Iloilo or Davao by 2016.

SLI is one of the biggest subdivision developers in the country with some 250 subdivision projects nationwide.

Its mall operation through the Sta. Lucia East Grand Mall has provided a steady revenue stream for the company, Robles said.

SLI is hiking its capital expenditure budget to P3 billion for next year from P2 billion this year.

By yearend, SLI expects profits to reach P600 million, twice more than the P300 million it posted last year.