MANILA, Philippines – Property developer Sta. Lucia Land Inc. (SLI) has deferred a follow-on offering (FOO) or re-initial public offering of shares worth P8.4 billion, citing “volatile” market conditions. The decision to defer the FOO was made upon further consideration and extensive discussions between SLI and China Bank Capital, issue manager, underwriter and bookrunner, SLI...
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AYALA LAND, Inc. (ALI) may postpone its real estate investment trust (REIT) offering to next year, as it waits for the final guidelines to be released by the Securities and Exchange Commission (SEC). “If we can get it this year, or early next year, we’ll just adhere to the SEC timeline, which is really now about the release of the new guidelines,” ALI Chief Finance Officer Aug...
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MACTAN, Cebu—Consunji-led DMCI Holdings Inc. is beefing up its investments in Cebu, mainly on property development and construction activities as it banks on the improving wealth of cities outside of the country’s capital. DMCI Chairman Isidro A. Consunji said the company’s property development arm DMCI Homes has acquired two properties in Cebu for the development of its...
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Ayala-owned property developer Alveo Land has unveiled a new commercial district in Binan, Laguna as part of its mixed-use estate called “Broadfield,” bringing to the property market P18 billion worth of fresh commercial lot inventory. Targeting business enterprises that want to put up their own building or develop mid-rise condominium towers, Alveo has allocated 36.6 hectares for t...
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LISTED Sta. Lucia Land Inc. (SLI) announced on Friday that it recently opened its P500-million mixed-use development at Barangay Rizal, Silay City, Negros Occidental. In a filing with the local bourse, the listed property developer said that the 67-hectare (ha) La Alegria Residential Estates, which it described as the “Paris of Negros Occidental,” is the second project development o...
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STA. LUCIA Land, Inc. (SLI) continues to expand its land bank with the planned acquisition of more than 100,000 square meters (sq.m.) of land in provincial areas. In a disclosure to the stock exchange on Wednesday, the listed property developer said its board of directors has authorized the firm to acquire parcels of land spanning 74,490 sq.m. in Davao; 35,588 sq.m. in Zambales, 917 sq.m. in Ri...
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