SLI to Capture Country’s Broad-based Economic Growth
Cainta, Rizal—(PHStocks)—With presence in 10 regions, Sta. Lucia Land Inc. (PSE: SLI) is poised to capture the country’s remarkable economic performance as growth continues to accelerate in areas outside metro manila. With multiple projects already present in the key cities and provinces, the company will be the beneficiary of increased purchasing power and the renewed influx of commerce as businesses starts to flourish in emerging cities and provinces.
“Even during the property crisis that happened in the past decades, property prices in these areas did not have violent swings, but instead have had a steady trajectory of increases in values over the past years”, says David dela Cruz, EVP and CFO. In Iloilo for instance, we commenced selling at an average of PhP5,600 per sqm in late 2012. Today, the market value has reached highs of PhP8,800 per sqm and is expected to continue to appreciate. We have similar experiences in Cebu, Davao, Pampanga and Bulacan.
The company has launched a total of 38 projects in the past 3 years, including projects in Rizal, Cebu, Iloilo and Davao.
In terms of the consumption boom, the company plans to replicate its success and expertise in its current 120,000 sqm mall in Rizal by building new malls in commercial areas it already owns. SLI’s commercial areas total to over 33.93 hectares located in over 20 cities and provinces.
SLI’s 3Q net income enjoyed a 112% increase YOY.