Property developer Sta. Lucia Land Inc. (SLI) is raising up to P900 million in loans as the company embarks on land acquisitions and construction of new projects.
SLI said in a disclosure to the Philippine Stock Exchange Thursday its board authorized the company to secure an additional unsecured short-term loan facility of up to P400 million with Philippine Veterans Bank.
It also authorized the company to obtain an unsecured short term loan facility of up to an P500 million with with Unicapital Inc. and Unicapital Finance and Investments Inc. This will consist of revolving promissory note loan of up P200 million and short-term credit facility of up to P300 million.
Meanwhile, SLI also disclosed a plan to acquire 17,987 square meters of land in Batangas for future development.
It is also pursuing four joint venture developments in Rizal, Batangas, Bulacan and Pangasinan provinces.