LISTED PROPERTY developer Sta. Lucia Land, Inc. (SLI) plans to allocate P3 billion to P5 billion for capital expenditures (capex) this year, focusing on land acquisitions and project developments in key areas, the company announced on Wednesday.
“We are optimistic about our prospects this 2025 as we continue to build across the country to address a growing demand for communities beyond traditional city centers,” SLI President Exequiel D. Robles said in a statement.
“This targeted expansion not only diversifies our portfolio but also positions us to deliver long-term value for our stakeholders while creating inviting spaces for families and individuals seeking a higher quality of life,” he added.
The expansion is expected to drive a compound annual growth rate of 20% to 25% in revenues, SLI said.
Last year, SLI earmarked P5.62 billion for capex, with P4.5 billion allocated for project development and P1.12 billion for land acquisitions.
The property developer said it plans to continue developing sustainable neighborhoods in emerging locations such as Laguna, Batangas, Bulacan, Davao, and South Cotabato.
It added that it is pursuing joint venture deals in Cavite, Iloilo, and Davao to develop contiguous lots and expand existing projects.
Leasing income accounted for 5.92% of SLI’s total revenues as of the third quarter of 2024, the company reported.
Sta. Lucia Group, led by publicly listed SLI, had recorded a total of 313 projects as of end-2024.
These projects span 12,000 hectares across 70 cities and municipalities. The portfolio includes resort-themed developments, lake and golf communities, residential lots, townhomes, retail and office spaces, and condotels.
Other key expansions last year included El Sitio Nativo in Nasugbu, Batangas, in May; a partnership with ARSM Land, Inc. in February to develop a six-hectare mixed-use community in South Cotabato; and the opening of SotoGrande Palawan in November.
“This investment strategy highlighted the company’s focus on growth and its confidence in the robust demand within the real estate sector,” it said.
SLI said it remains focused on developing residential communities outside Metro Manila, particularly in Cavite, Laguna, Batangas, Rizal, Pangasinan, Pampanga, Bulacan, Cebu, Iloilo, Bacolod, Puerto Princesa in Palawan, Davao, and South Cotabato.
For retail, the company said it plans to expand its leasing business with the opening of Sta. Lucia Davao Mall this year. The property has a gross floor area of 40,918 square meters (sq.m.) and a gross leasable area of 24,143 sq.m.
The projected gross annual leasing income for Sta. Lucia Davao Mall is estimated at P100 million to P140 million, based on a conservative 90% occupancy rate.
SLI also noted ongoing efforts to offer over two million sq.m. of commercial properties adjacent to residential communities, catering to malls, strip malls, supermarkets, retail convenience stores, schools, churches, and car showrooms, among others.
As of December 2024, SLI’s commercial properties covered 3.357 million sq.m. — Beatriz Marie D. Cruz