MANILA, Philippines - Sta. Lucia Land Inc. (SLI) is preparing to embark on more developments in key cities nationwide to take advantage of the growing tourism potential in these areas.
The company is set to develop properties in Dagupan City, Iloilo, Cebu, Palawan, General Santos City, Davao and the Calabarzon area, SLI said in a disclosure to the Philippine Stock Exchange yesterday.
According to the property developer, the robust growth of the country’s tourism industry is being fueled by demand not just from foreigners but also from locals.
“We will do more to support this buoyant sector as we continue to embark on tourism related assets.” SLI executive vice president David de la Cruz said.
Over the years, SLI and its parent company Sta. Lucia Realty & Development Inc. have continued to expand its tourism portfolio by building over 12 world class golf courses, country clubs and multiple hotel developments nationwide.
In addition, SLI has embarked on providing hotel accommodations in Quezon City, Tagaytay, Cainta and Cebu, as well as new developments in Iloilo and Davao City.
Data from the Department of Tourism showed the country generated earnings amounting to P227.62 billion last year from 5.36 million visitors.
The amount was 5.92 percent higher than the previous year’s earnings of P214.88 billion.
Visitors from countries such as Korea, US, Canada, Australia and Japan topped spending of these foreign tourist arrivals.
SLI in December last year raised P5 billion from the issuance of fixed-rate peso bonds.
Proceeds from the issuance were earmarked for general corporate purposes, capital expenditures and refinancing of existing secured loans.