LISTED property developer Sta. Lucia Land Inc. (SLI) said it is acquiring more land outside Metro Manila and will be entering joint venture agreements as part of its continuing expansion.
In a disclosure to the Philippine Stock Exchange, SLI said its board of directors has authorized the acquisition of 18 parcels of land totaling 1.97 million square meters, located in Rizal, Davao, Cebu, Batangas, Bulacan and Iloilo.
One million square meters is equal to 100 hectares or one square kilometer.
SLI was also allowed by its board to enter nine joint-venture agreements to develop properties in locations such
as Rizal, Davao, Batangas, Quezon Province, Pangasinan and Pasig City. The said properties have a total area of 1.83 million square meters.
Earlier this year, SLI announced that it has already entered 14 joint venture agreements covering an aggregate area of 1.82 million square meters.
The company previously reported that it acquired 89 properties this year totaling 2.2 million square meters.
The new land acquisitions and joint ventures bring the company’s total acquired land for 2016 to an estimated 4.18 million square meters and 3.66 million square meters of joint ventures.