Listed subdivision developer Sta. Lucia Land, Inc. (SLI) eyes continued growth in the residential real estate sector even amidst the ongoing pandemic.
SLI’s project portfolio, currently at 99 ongoing projects as of December 2020, has a total gross area of 1,617 hectares and is predominantly horizontal in nature.
SLI also has a strong presence all over the country, including major areas such as Rizal, Laguna, Cavite, Batangas, Bulacan, Pampanga, Tarlac, Baguio, Palawan, Bacolod, Iloilo, Cebu and Davao.
Total land bank earmarked for future development as of December 30, 2020 stood at
935 hectares.
Data from the BSP in its report dated December 23, 2020 cited that prices in areas outside NCR in Q3 2020 actually grew by 6.4 per cent year on year. With this, along with the increase in net income in 3Q 2020 year on year by 16.5 per cent, is a testament to the resiliency of the company and the overall horizontal residential real estate sector.
“Even with the decline in real GDP along with the contraction of overall activity, SLI displayed continued resilience in its operational and financial performance. Its strong balance sheet coupled with its well positioned project portfolio was able to weather the worst of the crisis and is ready to capitalize on opportunities once recovery is underway” says David Dela Cruz, EVP and CFO.
SLI’s 3Q 2020 net income stood at PHP 1.3 Billion compared to 3Q 2019 at PHP 1.12 Billion. – BusinessNews.ph
