Sta. Lucia Land Inc. (SLI) of bilyonaryo Exequiel Robles plans to borrow as much as P5 billion from several banks to acquire more lands and pursue the development of more projects.
In a disclosure to the Philippine Stock Exchage, SLI said it secured board approval to enter into an unsecured syndicated term loan facility agreement with primary institutional lenders for up to P5 billion.
SLI has also agreed to secure a short-term loan facility from China Banking Corp.
The company is committed to establish more masterplanned residential communities for its current and new customers nationwide, with a focus on provincial growth areas.
SLI disclosed plans to acquire a parcel of land in Batangas and Bulacan with an area of 23,770 square meters and 16,349 square meters, respectively.