37.4 hectares in Nasugbu: Sta. Lucia buys more Batangas properties from Roxaco Land

Sta. Lucia bought a total of 37.4 hectares in Nasugbu, Batangas from Roxaco, a wholly-owned subsidiary of publicly-listed Roxas and Co., on 24 February 2021.

READ: Roxas Group sells Batangas properties to SM, Sta Lucia

The assets are located in Barangay Lumbangan (20.2 hectares) and Barangay Bilaran (17.2 hecatres) in Nasugbu. Roxaco did not disclose the transaction price.

This is the second property deal between Robles and the Roxas-Elizalde group in the last 13 months. Sta. Lucia bought a 6.67-hectare beachfront properly in Nasugbu from Roxaco in January 2020.

Roxaco planned to use the proceeds from the sale to pay off a portion of its debt and for its working capital needs.

Roxaco is optimistic that with Sta. Lucia’s planned residential and commercial developments for the properties, its remaining properties in Nasugbu would have a “substantial increase in fair market value.”

Andrew Tan brings Belmont hotel to Cebu

Bilyonaryo Andrew Tan’s flagship property firm Megaworld is opening a new Belmont Hotel within the 30-hectare Mactan Newtown in Lapu-Lapu City, Cebu by the fourth quarter this year, further strengthening its leadership position in the hospitality space.