STA. LUCIA Land Inc. will expand four of its projects in Iloilo, the company announced in a disclosure to the
Philippine Stock Exchange, which will bring its total development footprint in the province to 262 hectares.
This follows an earlier announcement by the property development company of expansion plans for its commercial and mixed-use projects in Davao, Iloilo, Pasig City, and Quezon City.
In a disclosure to the Philippine Stock Exchange last week, Sta. Lucia said it would pursue expansion projects in Iloilo in its Greenmeadows, Metropolis Executive Village, Nottingham Villas, and SotoGrande Iloilo in Jaro, along with a new development in Sta. Barbara.
Sta. Lucia said it will further develop the 172-hectare Greenmeadows into a regional hub with a community mall, mid-rise condominium, and business process outsourcing office buildings. The company will also expand the six-story SotoGrande Iloilo hotel within Greenmeadows.
The Metropolis Executive Village residential community, meanwhile, will expand by six hectares from 51 hectares to 57 hectares.
The company is also expanding the three-hectare Nottingham Villas, adding a prime commercial area to the residential townhouse community.
The new residential project in Sta. Barbara, which was recently approved by the company’s board of directors, will cover 30 hectares.
The Sta. Lucia Group first ventured into Iloilo province with the development of the Metropolis Executive Village, covering 511,637 square meters of land. Its footprint has since expanded to 262 hectares, including the latest expansion projects.
“We are committed for long term growth in the Philippines, especially in emerging cities and provinces like Iloilo,” Sta. Lucia Vice-President for Corporate Planning and Investor Relations Jeremiah T. Pampolina said.
“We have invested here for the past two decades and we will continue to invest and contribute to nationwide development because the Philippines is our home,” he added.
Sta. Lucia earlier announced plans to develop more office spaces for business process outsourcing locators, retail areas and malls, factories and warehouses, schools, public and private projects, and tourism/leisure developments.
The company is initially targeting five commercial projects for further development, Sta. Lucia Business Center in Pasig City; Neopolitan Business Park in Fairview, Quezon City; Greenmeadows in Iloilo; Ponte Verde in Davao; and Davao Riverfront Business Park.
The company explained its initiative to expand its commercial property development as a move to increase its recurring revenue stream to 40 percent of its total income within the next three years.