Property developer Sta Lucia Land Inc (SLI) plans to expand its Iloilo footprint as it banks on the growth of the Western Visayas region, the company said on Friday.
In a disclosure to the Philippine Stock Exchange, SLI said it has five major expansion projects underway in Iloilo, which includes four residential developments, and one full-service hotel.
Among the ongoing residential projects is the 172-hectare Greenmeadows residential community in Jaro, Iloilo.
“Plans are underway to develop this into a regional hub with a community mall, mid-rise condominium and BPO/office buildings,” SLI said.
Also located in Jaro are the 3-hectare Notttingham Villas, composed of townhouses, and the 51-hectare Metropolis Executive Village, which is set to expand by another 6 hectares.
Similarly, the company noted that it plans to launch an unnamed residential project in a 30-hectare lot in Sta. Barbara, Iloilo.
Aside from residential developments, SLI said it is building a 6-story full-service hotel development within its Greenmeadows project in Jaro, Iloilo. The hotel will feature a total of 149 units.
SLI noted that its expansion in Iloilo is driven by the growth of the Western Visayas region.
“With the region’s robust growth of 8.3 percent in 2015 and a strong construction boom underway, Iloilo City is considered one of the most business-friendly cities in the country,” the company said.
The Sta. Lucia Group has been expanding its presence in Iloilo for the past two decades, having launched its first project in the city, Metropolis Executive Village covering 511,637 sqm of land development, in 1995.
SLI Vice President for Corporate Planning and Investor Relations Jeremiah Pampolina explained the firm’s focus on emerging cities like Iloilo.
“We are committed for long term growth in the Philippines especially in emerging cities and provinces like Iloilo. We have invested here for the past 2 decades and we will continue to invest and contribute to nationwide development because the Philippines is our home,” Pampolina said.