Sta Lucia eyes Bohol for real estate projects

Following Cebu's success for the past decades, Bohol is likewise fast becoming to be one of the most attractive sites for multi-million peso real estate development in Central Visayas.

Because of this bright prospect, Sta. Lucia Realty Development Corporation (SLRDC) will start its residential as well as commercial projects in Bohol province this year, said the company's president and chief executive officer (CEO) Exequiel D. Robles.

"Bohol is a growing market, we would like to enter this market this year," Robles said in an interview.

Although there are no definite plans yet, Robles said the company is looking at establishing its name in the residential and commercial developments in Bohol.

Aside from OFWs (Overseas Foreign Workers), Robles said tourism has also pulled up the attractiveness of Bohol, as a fertile province for real estate investments.

He said the company will get into partnerships with local residents in Bohol, or land owners in the province in order to pursue its plan to build real estate structures.

In Cebu, since its entry few decades ago, the company has developed a little over 20 residential and commercial real estate projects, mostly if not all, were done in partnership with local partners or land owners.

Its largest commercial development is the establishment of huge Al Vista Golf and residential estate in the southern part of Cebu, wherein the company invested about P1.2 billion.

This year, the company has also unveiled its newest residential project, the P500 million upscale Discovery Bay, in partnership with Discovery Bay Properties Inc.

Robles said like Cebu, the company would like to grow tremendously in Bohol in the next few years.

After developing mostly flat lands to build residential and commercial structures, Robles said the company will now re-enter into investing mid-rise to high-rise condominium projects in Cebu.

"Cebu has limited flat lands, the province is mountainous," Robles said referring that high-rise condominium project is seen to hit Cebuano market in the next few years.

He added that land is becoming more expensive in Cebu, and demand for condominium projects is expected to grow over the years here.

Already, SLRDC has built two condominium projects in Cebu, the Sentinel Towers along Banilad area in Cebu City, and the Vistamar resort complex in Mactan Island.