Santos-Robles hungry for more growth: Sta. Lucia to add 155 hectares to landbank, tap P350M loan from Veterans Bank
Property

Santos-Robles hungry for more growth: Sta. Lucia to add 155 hectares to landbank, tap P350M loan from Veterans Bank

Sta. Lucia Land Inc. (SLI) owned by bilyonaryo cousins Vicente Santos and Exequiel Robles is expanding its land bank and seeking more financing ahead of the anticipated rebound in the post-pandemic property market.

The SLI board approved the addition of a total of 155 hectares to its land inventory, including the acquisition of a 2.5-hectare property in Batangas.

Robles-Santos group adds over 120 hectares to Sta. Lucia land bank, borrows P6B from China Bank

SLI is also looking to forge joint ventures with land owners in Bulacan (8.4 hectares), Batangas (36.3 hectares), Rizal 64.5 hectares, Laguna (16.8 hectares), Pangasinan (17.6 hectares), Pampanga (1.4 hectares) and South Cotabato (7.8 hectares).

The board also agreed to seek up to P350 million in loans from the Philippine Veterans Bank.

Last February, SLI approved the purchase of 32.3 hectares of land in Batangas and Laguna and joint ventures covering a total of 89 hectares in Rizal, Batangas and Cotabato.

SLI reported a 22 percent year-on-year jump in its first quarter profit to P1.126 billion as revenues surged 34 percent to P3.06 billion.

 

Leave a Comment

4 × four =

This site uses Akismet to reduce spam. Learn how your comment data is processed.