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Sta Lucia enters into JV to develop Cainta property

Posted at | Updated as of 07/09/14 7:22 PM

MANILA, Philippines -- Listed Sta. Lucia Land Inc. (SLI) on Wednesday said it will be entering into a joint venture for the development of a property in Cainta, Rizal.

In a disclosure to the stock exchange, SLI said its board of directors approved the company's move to enter into a joint venture for the development of a part of Cainta Greenland with an area of 8,062 square meters.

The terms of the joint venture are still being negotiated.

No other details were available.

SLI has several development projects in Bacolod City, Cebu, Davao, General Santos City, and Iloilo City. It recently launched 20 new projects.

In the first quarter of 2014, SLI posted a 94 percent increase in revenues to P556 million.