Santa Lucia forges agreements for property development
Sta. Lucia Land Inc. (formerly Zipporah Realty Holdings Inc.) has forged agreements with several real estate companies to jointly develop properties in Gen. Trias and Trece Martirez in
In a disclosure to the Philippine Stock Exchange, Sta. Lucia Land said it will jointly develop the properties with Great Landho Inc., Tama Properties Inc. and TT&T Development Inc.
No other details were disclosed by the company on the proposed joint development project.
Sta. Lucia Land likewise approved the transfer of land titles covering the Sta. Lucia East Grand Mall phase 2 under the company’s name following the assumption of parent firm Sta. Lucia Realty & Development Inc.’s obligations amounting to P800 million.
Sta. Lucia Land likewise approved a plan to sell a property in
Sta. Lucia Land earlier secured a P500-million credit facility from the Rizal Commercial Banking Corp., secured by properties.
The company was earlier reported to be issuing shares through a follow-on offering. The shares to be issued will come from the proposed increase in authorized capital stock of Sta. Lucia Land from P2 billion to P16 billion.
Owned by the Robles family, Sta. Lucia Realty began as a developer of residential subdivisions in 1972 under the name Buen-Mar Realty. It has likewise set itself apart as the country’s leading golf and country club developer.
Among its projects include residential estates in Metro Manila,
The group has also diversified into the development of leisure projects to boost its profitability. It has successfully completed and operated beach clubs such as Vista Mar Beach Resort in
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