MANILA, Philippines — Sta. Lucia Land Inc. (SLI) will pour in P15 billion in capital expenditures in the next three to five years to develop over 600 hectares of land.
The company said this would help ensure long-term growth.
It has acquired over 658 hectares of land and entered into various joint venture agreements covering 991 hectares. These are in Pangasinan, Bulacan, Marikina, Quezon City, Pasig City, Cavite, Laguna, Batangas, Rizal, Quezon province, Palawan, Negros Occidental, Iloilo, Cebu, Zamboanga City, General Santos City and Davao.
“Total capex requirements to convert these properties to saleable developments amount to roughly P15 billion in the next three to five years,” SLI said.
The capex would be used to develop more retail, commercial and tourism-related establishments to complement its massive residential developments.
SLI, together with parent company Sta. Lucia Realty & Development Inc., has developed over 220 subdivisions covering 10,000 hectares of land scattered throughout the country.
Developments range from residential estates including large-scale masterplanned projects and over 14 golf courses.
In recent years, the company has entered into the development of retail, commercial and tourism related establishments.
These developments, the company said, are intended to cater to all of the communities that were formed in over 45 years of the groups’ rich history.
The company intends to leverage its expertise in retail from its current 200,000 square meter mall in Cainta, Rizal.
To finance its growth, SLI intends to tap both the debt and equity markets.
SLI said its leverage position remains healthy at 0.53 while its book value per share continues to gradually increase from 1.37 in 2014 to 1.55 as of June 30, this year.
The company is a majority-held company of the Sta. Lucia Realty Group that was incorporated in 1972. Together, SLI and SLG have a combined 40-year track record that created a footprint in 10 major regions and cities in the country as they developed over 10,000 hectares of land and more than 220 residential subdivisions.
Its latest project is a joint venture involving the development of a 212,890 square meter property in Palawan.