Publicly listed Sta. Lucia Land Inc. is bullish on its prospects going into 2023 as its earnings in the first nine months of 2022 exceed its full 2021 net income amid a stronger demand for its residential projects.
“We will increase our capital expenditure to P6.5 billion in 2023, up by 8.33 percent from P6 billion in 2022,” David dela Cruz, executive vice president and chief finance officer of Sta. Lucia Land told reporters in a recent briefing held in Makati City.
In a statement, SLI reported its net income surged by 55.53 percent to P2.87 billion as of end September compared to the P1.845 billion it recorded in the same period last year. For 2021, the property developer posted its record high net income of P2.84 billion, despite the challenges posed by the pandemic. “Fortunately or unfortunately, Santa Lucia Land Inc. was a beneficiary of the pandemic as we’ve seen a lot of growth in provinces like Iloilo,” dela Cruz said.
“For the first three quarters of 2022, we already achieved the same growth level in 2021. Plans of land banking are also on the way,” dela Cruz said.
The rising demand for residential properties is the growth driver behind the scintillating performance of SLI. To sweeten the deal so to speak, their projects offered wide open spaces, farms, beachfront lots, access to world-class golf courses and other themed communities during the pandemic.
“Given the lessons learned and re-learned during the pandemic, many have had renewed appreciation for neighborhoods that can give them wide open spaces, lush surroundings, pocket gardens, fresh air, and opportunities to commune with nature. This is why we’ve seen a considerable growth in demand for our projects, because the majority of our developments offer farms, beachfront lots, lakes, and access to world-class golf courses, among others,” explained Sta. Lucia Land President Exequiel Robles.
At present, Sta. Lucia Land and the entire Sta. Lucia Group has a comprehensive, diverse portfolio comprising over 300 developed projects in 70 cities and 11 regions from Pangasinan to Zamboanga.
These projects are located in high growth areas, city centers and even in the fringe areas, enabling the Sta. Lucia Group to help spur economic activities, generate jobs, provide quality homes, and fuel growth even in the countryside.
For 2023, SLI plans to capture the growing residential demand by further expanding its presence in 18 provinces, where it already has a strong footprint. These include Bulacan, Pangasinan, Bataan, Pampanga, Nueva Ecija, Zambales, Cavite, Laguna, Batangas, Rizal, Quezon, Palawan, Iloilo, Bacolod, Cebu, Zamboanga, South Cotabato, and Davao.
To support its expansion projects and land banking activities, SLI plans to beef up its capital spending by at least 8 percent in 2023.
Powering the brand
Actress Bea Alonzo and Santa Lucia Land have an enduring partnership. Alonzo, who earned her acting spurs in ABS-CBN, started investing in real estate when she was 15 years old.
She also shared to the reporters that she bought her first property investment in Santa Lucia “I have experienced buying lots and condominiums from them and I know it is the brand I can trust when it comes to investing in real estate,” she said.
Alonzo has been the brand ambassadress of Santa Lucia Land for eight years.
By investing in Santa Lucia, Alonzo said she is confident that her hard-earned money would not go to waste as the company has good developments.
For the 35-year-old Alonzo, location is the prime reason for investing in a property. She adds it will also depend on the needs of the buyer “It also depends on your needs if you want it for investment, home or business.”
As a doting daughter to her mother, Alonzo revealed the main reason why she is investing in real estate is to provide stability to the family. She credits her manager Shirley Kuan for imparting valuable tips in investing in real estate because Kuan has a lot of investments in real estate.
She recalled investing in real estate proved to be beneficial for her especially during the “rainy days.” “It was Mister M [director Johnny Manahan] who helped me and my mom evaluate and assess our potential investments,” Alonzo recalled.