House and lot developer Sta. Lucia Land Inc. said it will spend P20 billion in over the next three years to expand its presence across the Philippines.
Sta. Lucia said in a disclosure to the stock exchange it would allot more than P16 billion of the capital expenditures budget to develop a robust pipeline of projects in key locations within and outside Metro Manila, including Bulacan, Rizal, Batangas, Iloilo, Pangasinan, Palawan, Cebu and Davao.
The company this year is set to launch 28 new residential and commercial projects and five condominium/hotel projects. These projects are expected generate an estimated P20 billion in reservation sales over the next three years.
Among the residential projects set for launching are Sotogrande Fairview, Acropolis Loyola in Quezon City Orchard Towers in Pasig City, Ponte Verde de Sto. Tomas and Yanarra Seaside Residences in Batangas, Colinas Verdes Expansion in Bulacan, Woodside Garden Village in Pangasinan, Metropolis in Iloilo and Valle Verde in Cebu.
Sta. Lucia is earmarking P4 billion for land banking activities as it aims to expand its presence nationwide.
It is also set to expand the leasing segment as it nears the completion of the Sta. Lucia Business Center, a six-story office and commercial building with more than 14,000 square meters of gross leasable area. Located at the Sta. Lucia Mall Complex, the new space will raise the SLI’s GLA to more than 150,000 square meters.
Sta. Lucia is one of the leading real estate developers in the Philippines. It is part of the Sta. Lucia Group, which has a real estate development record of over 45 years and completed over 250 projects, developed more than 10,000 hectares of land, and created some of the best known communities, subdivisions and estates across the country.
Its portfolio consists of residential, commercial, leisure and retail assets in key cities and municipalities in the Philippines.
Share price of Sta. Lucia on Tuesday closed at P1.91, up 0.5 percent.
