REAL-estate firm Sta. Lucia Land Inc. (SLI) will develop various projects through joint ventures (JV) and acquire pieces of land to improve further its financial standing.
In a regulatory filing on Thursday, the company revealed that it was authorized by its board of directors to develop properties in various locations in Luzon, with an aggregate area of 162,054.62 square meters. Several of which are in Rizal province, including three projects in Santa Ana in Tatay, with a total area of 18,104 sq m; one project in Mahabang Sapa, Cainta, at 17,352 sq m; four projects in San Juan, Cainta, at 24,753 sq m; one project in Cainta, Rizal, at 4,424 sq m; and one project in Pag-asa, Binangonan, at 28,535.62 sq m.
SLI will also develop two projects in Tuctucan and Panginay, Guiguinto, Bulacan, with an area of 40,286 sq m; one project in Sinalhan, Santa Rosa, Laguna, at 27,500 sq m; and one project in Quirino, Quezon City, at 1,100 sq m.
The company will acquire 22,212-sq-m parcels of land, including 6,358 sq m in Canigaran, Puerto Princesa City; 15,484 sq m in Barrio de la Paz, Biñan, Laguna; and 370 sq m in Panapaan, Bacoor, Cavite.
For the first half of 2015, SLI posted a 31-percent hike in net income to P402 million from P307 million during the same period last year. This was mainly driven by the 67-percent increase in gross revenues, from P956 million to P1.595 billion year-on-year. The publicly listed company is set to issue debt instruments worth up to P6 billion for its land acquisitions, acceleration of ongoing projects and funding of new projects.