Robust revenues lifted earnings of bilyonaryo Exequiel Roble’s Sta. Lucia Land (SLI) by 10 percent to P3.16 billion in the first nine months of the year.
SLI’s topline climbed 17 percent to P8.76 billion during the nine-month period from last year’s P7.50 billion.
The growth in the company’s revenues was primarily driven by real estate sales, which jumped by 19 percent year-on-year to P7 billion as SLI’s marketing activities intensified, and demand for properties in the specific area where the group’s developments are situated increased.
Rental income grew by 18 percent to P573 million, attributed to increased foot traffic in the malls, successful property management strategies, and a decrease in the extension of rental concessions.
With a rise in buyers choosing installment terms for their property purchases, the company’s interest income likewise surged by 26 percent to P412 million.