Phl Racing Club in talks with Sta Lucia for subdivision project

MANILA, Philippines - Listed horse racing operator Philippine Racing Club Inc. (PRCI) is holding preliminary discussions with Sta. Lucia Land Inc. (SLLI) to jointly develop a subdivision project.

Under the proposed joint venture, PRCI would contribute several parcels of land that will be developed by SLLI into a residential subdivision.

The land with an area of 537,011 square meters, is located in Cebu.

“There are no final details of the joint venture agreement as of the moment since PRCI and SLLI are still in the preliminary stage of negotiation,” PRCI said.

PRCI said the project would allow them to expand its property portfolio.

Meanwhile, SLLI said it has acquired 24,578 square meters of land in Davao; 51,500 sqm property at Gold Meadows, Sta. Rosa; 32,213 sqm lot at Greenwoods South Batangas and a 9,421 sqm lot at Lipa Royale Batangas.

SLLI said it has also approved plans to enter into joint ventures, including the development of phase 2 of the Rizal Techno Park, Taytay;  new projects in Puerto Princesa, Palawan, Davao and Cebu.

The Sta. Lucia Group has had a strong history of building quality projects having developed over 9,000 hectares of prime properties with over 200 projects nationwide. 

It by far has served the middle income segment by providing residential units while tailor-fitting amortization schemes to make the units affordable without comprising quality.