Sta. Lucia expands land bank, enters JVs

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LISTED property developer Sta. Lucia Land Inc. announced on Thursday it has acquired new properties and entered new joint venture agreements using the proceeds raised from its recent P4-billion bond offering.

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In a disclosure to the Philippine Stock Exchange, Sta. Lucia said its board in a special stockholders’ meeting on Wednesday approved resolutions authorizing the company to acquire properties in Pasig City, Laguna, Cavite, Batangas, Tagaytay and General Santos City.

The properties acquired have an aggregate size of 968,962.47 square meters,.

At the same meeting, the board also approved resolutions allowing the company to enter joint venture agreements for land development in Cavite, Laguna, Batangas, Rizal, Iloilo and Cebu on land totaling 947,533.62 square meters in size.
The acquisitions and JVs were funded through the proceeds of its recent P4 billion corporate bond offering.

“Fresh from the recent maiden P4-billion corporate bond offering, part of the proceeds [was]immediately used to acquire strategic landbank and to continue its joint-venture business model,” Sta. Lucia said.

The acquired properties include 21 parcels of land in Calamba, Laguna with a total aggregate area of 315,361.97 sq.m.; 11 parcels of land in Bo. Manghinao I, Bauan, Batangas with a total aggregate area of 89,942 sq.m.; eight parcels of land in Bauan, Batangas with a total aggregate area of 85,455 sq.m.; three parcels of land in Biñan, Laguna with a total aggregate area of 16,622 sq.m.; and two parcels of land in Matinao, Polomolok, Gen. Santos.

This also includes one parcel of land in each of the following locations: Cavite (34,382 sq.m); Bo. dela Paz, Biñan, Laguna (10,322 sq.m).; Bo. Sinalhan, Sta. Rosa, Laguna (5,500 sq.m).; Santolan, Pasig City (1,977.50 sq.m.);San Antonio, Biñan, Laguna (2,000 sq.m.); Dasmariñas, Cavite (300,000 sq.m.); Bo. Balayong, Bauan, Batangas (11,522 sq.m.); and Barangay Iruhin, Tagaytay City (299 sq.m.).

Meanwhile, the approved joint ventures include the development of projects in Pavia and Manduriao in Iloilo City (688,477 sq.m).; Bo. Sacsac, Cebu (33,848 sq.m.); Bauan, Batangas (84,339 sq.m.); Bo. Dela Paz, Biñan, Laguna (13,700 sq.m.); Sto. Tomas, Batangas (37,746 sq.m.); Binangonan, Rizal (28,535.62 sq.m.); Dasmariñas, Cavite with an area of (44,692 sq.m.);Bo. Mayamot, Antipolo City (8,471 sq.m.); and Brgy. Sta. Ana, Taytay, Rizal (7,725 sq.m.).

In a separate disclosure, the property developer also noted that it has purchased 6.25 million shares of stocks of Philippine Wu Yi Corp in Uni-Asia Properties Inc., which represents 12.5 percent of the total outstanding capital stock of Uni-Asia Properties Inc.

It noted that each share was priced at P13.60, which translates to a total of P85 million.
Uni-Asia Properties, Inc. is a realty company based in Iloilo City.

Furthermore, Sta. Lucia said it continues to expand its international markets as it opened new sales offices last year in Australia, France and Illinois in the United States. It also has sales offices in the United Kingdom, Singapore, Dubai and California.

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