LISTED PROPERTY developer Sta. Lucia Land (SLI) plans to launch over 20 projects nationwide this year, primarily focusing on the residential-subdivision sector, its top official said.
“Actually, we are planning on these projects and we’re preparing for its launching,” SLI President Exequiel D. Robles told reporters on the sidelines of an event last week.
Residential subdivisions remained Sta. Lucia’s strongest growth driver last year, according to Mr. Robles.
SLI is proposing a capital expenditure of about P3 billion to P5 billion, which will be earmarked for land acquisitions and project developments.
For 2025, SLI plans to launch three projects in Iloilo and five in Mindanao. The company has 50 hectares’ worth of projects in the pipeline each in Negros Occidental and Iloilo.
It also plans to launch a hotel and condotel in Baguio this year, Mr. Robles added.
SLI’s second mall, a four-story property in Davao City measuring 40,918 square meters (sq.m.), is also slated to launch this year.
The Sta. Lucia Davao Mall has a projected gross annual leasing income of about P100 million to P140 million, following a conservative 90% occupancy rate.
Other focus areas under SLI’s planned expansions include Laguna, Batangas, Cavite, Rizal, Pangasinan, Pampanga, Bulacan, Cebu, Palawan, Siargao, and South Cotabato.
The developer also obtained a combined P3 billion in loans from Rizal Commercial Banking Corp. (RCBC) and China Banking Corp. (China Bank) last year.
“Out of the P6 billion, we already obtained P3 billion, half of each, last December. This March, we will get the other half, so P1.5 billion from RCBC and P1.5 billion from China Bank,” David M. Dela Cruz, chief financial officer and executive vice-president at SLI, told reporters.
Sta. Lucia earlier said it plans to offer — either for sale or lease — about two million sq.m. of commercial properties adjacent to residential areas.
The developer’s commercial properties covered 3.357 million sq.m. as of December last year. — Beatriz Marie D. Cruz