Home Business Build & Design ARA, SLI enter deal for Bulacan project

ARA, SLI enter deal for Bulacan project

PROPERTY developer Araneta Properties Inc. (ARA) has entered into a joint venture (JV) agreement with Sta. Lucia Land Inc. (SLI) for the development of a Bulacan property.
ARA said its board of directors approved the agreement involving the development of a 580,154-square-meter property located in Barangay Tungkong Mangga, San Jose Del Monte, Bulacan.

The company added that the board also delegated to management the determination of the terms and conditions of the said JV agreement.

The 23-year-old property developer SLI led by businessman Exequiel Robles is part of the Sta. Lucia Group that has completed over 220 projects and developed over 10,000 hectares of land across the country.

Its portfolio consists of developments that include residential, commercial, leisure and retail assets.

On the other hand, ARA is engaged in the acquisition, owning, holding, developing, improving, subdividing, selling, leasing, renting, mortgaging, managing and dealing of real estate for residential, commercial, industrial and recreational purposes.

Its property portfolio includes the San Jose del Monte, Bulacan property and Smelting Plant.

ARA booked a net income of P14.24 million in the first half of the year, up 7 percent from P13.30 million in the same period in 2018.

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Today’s Front Page December 10, 2019

Today’s Front Page December 10, 2019