Sta. Lucia Land, led by real estate magnate Exequiel Robles, reported a 21 percent jump in net income to P3.43 billion, driven by strong real estate sales and commercial operations growth.
The company’s revenues climbed 18 percent to P9.88 billion, largely due to the upswing in real estate sales, rental income, and revenue from other sources.
Real estate sales rose by 14 percent, thanks to the increase in sales activities and property prices.
Moreover, as the economic recovery takes place and foot traffic returns to normal, the rental concessions offered to tenants have ended, leading to a remarkable 66 percent surge in revenue from commercial activities.
SLI’s other income, which includes gains from repossession of inventory, penalties and surcharges, and other miscellaneous income, also soared by 63 percent in 2021.