PROPERTY developer Sta. Lucia Land Inc. (SLI) announced on Monday that it planned to spend some P15 billion in the next three to five years to convert its acquired land into developments, with a focus on commercial and retail projects.
In a disclosure to the Philippine Stock Exchange (PSE), the company said it intends “to tap both the debt and equity markets to partially finance its growth.”
“The entry into the development of retail, commercial and tourism related establishments will cater to all of these communities that were formed in over 45 years of the group’s rich history,” SLI said.
With its parent company, Sta Lucia Realty & Development Inc., SLI currently has over 220 subdivisions covering over 10,000 hectares of land nationwide, including in Pangasinan, Bulacan, Marikina, Quezon City, Negros Occidental, Iloilo, Cebu, Zamboanga CIty, General Santos City and Davao.
SLI, which has acquired over 658 hectares of land bank and entered into joint venture agreements covering over 991 hectares since 2015, said it has raised more than P8 billion in unsecured long term debt over the past two years.