DEVELOPER Sta. Lucia Land Inc. (SLI) would take advantage of opportunities in provincial markets, as the Metro Manila property market becomes saturated.
In a disclosure to the Philippine Stock Exchange, SLI cited data from global property advisor CBRE
“As Metro Manila continues to be saturated, the need for new areas to be developed has become imperative in order to accommodate the growing demand in the market,” Rick Santos, CBRE Philippines chairman, said.
Laguna, Cavite, Bulacan, Pampanga, Cebu, Bacolod, Iloilo, Davao, Cagayan De Oro, and Zamboanga City are gaining attention from investors and developers on sheer economic potential, according to CBRE.
SLI noted these areas have been its niche market over the past years.
“SLI is poised to take advantage of this massive opportunity as the company has been developing majority of its projects outside the capital for years,” the company noted.
It has a strong presence in some of the potential areas cited by CBRE.
SLI has reported the acquisition of properties in Laguna, Palawan, Cebu, Iloilo, and Zamboanga City. The acquisition is equivalent to 125.35 hectares.
The firm also announced joint venture agreements to develop properties in Palawan, Rizal, Antipolo City, and Negros Occidental.
“This brings to a total of 1.824 million square meters of joint venture agreements and 2.212 million square meters of land acquisitions in the year to date,” SLI said.
Along with parent Sta. Lucia Realty & Development Inc., SLI is nurturing 223 projects equivalent to 9,127.2 hectares of land outside of Metro Manila.