LISTED Sta. Lucia Land Inc. (SLI) said the company is laying the foundation for its long-term growth through the land acquisitions and joint-venture agreements it made in 2016.
In a disclosure to the Philippine Stock Exchange on Monday, SLI said the land acquisition deals and partnerships with landowners it closed in 2016 amounted to a total of 937 hectares.
The company earlier said it acquired a total of 138 properties and entered 39 joint venture agreements.
“This brings to a total of 4.736 million square meters of land acquisitions and 4.632 million square meters of joint venture agreements for year 2016 to date,” SLI said in an earlier disclosure.
The bulk of its land bank is located in Region 4A, which comprises Cavite, Laguna, Batangas, Rizal and Quezon (Calabarzon), with 325.34 hectares of land acquisitions and joint venture agreements, followed by Region 11 or Davao Region with a total of 228.24 hectares.
SLI also closed land acquisition deals and joint venture agreements in the National Capital Region totaling 1.95 hectares; Cordillera Administrative Region (Baguio), 0.98 hectares; Region 1 (Pangasinan), 43.05 hectares; Region 3 (Bulacan and Nueva Ecija), 29.36 hectares; Region 4B (Palawan), 41.21 hectares; Region 6 (Iloilo), 153.37 hectares; Region 7 (Cebu), 7.43 hectares; Region 9 (Zamboanga), 28.63 hectares; Region 12 (General Santos), 9.56 hectares; and Region 18 (Silay City, Negros Occidental), 67.79 hectares.
The company said its aggressive land banking activities are in line “with its long-term plan to increase its nationwide geographic depth and breadth in its residential, commercial and tourism portfolio.”
SLI said most of the properties are located in emerging cities adjacent to its existing projects where it has built a presence for over five years.
In the first nine first nine months of the year, SLI posted a net income of P534.1 million, an increase of 4 percent from the previous year, while total revenues for the period grew by 4 percent to P2.37 billion.
“The stable growth in overall revenues is contributed by an increase in both real estate and rent al operations of the Group,” the company said.