The increasing demand for real estate products in the country boosted the earnings of Sta. Lucia Land Inc. (SLI) of bilyonaryo Exequiel Robles by 55.5 percent in the nine months ended September 30.
SLI booked a net income of P2.87 billion during the period, higher than the P1.84 billion recorded last year on the back of a 30.7 percent jump in revenues to P7.5 billion.
Revenue from real estate grew 26.6 percent to P5.91 billion while rental income from leasing operations rose 29.93 percent to P484 million as a result of the easing of COVID-19 restrictions.
“Benefiting from the greater demand for residential homes situated outside the busy districts, the group was able to close its third quarter net income remarkably,” SLI said.
The company said it is committed to continue its expansion plans to establish master-planned residential communities for its current and new customers with a focus on provincial growth areas.