ARA, SLI enter deal for Bulacan project
PROPERTY developer Araneta Properties Inc. (ARA) has entered into a joint venture (JV) agreement with Sta. Lucia Land Inc. (SLI) for the development of a Bulacan property.
ARA said its board of directors approved the agreement involving the development of a 580,154-squaremeter property located in Barangay Tungkong Mangga, San Jose Del Monte, Bulacan.
The company added that the board also delegated to management the determination of the terms and conditions of the said JV agreement.
The 23- year- old property developer SLI led by businessman Exequiel Robles is part of the Sta. Lucia Group that has completed over 220 projects and developed over 10,000 hectares of land across the country.
Its portfolio consists of developments that include residential, commercial, leisure and retail assets.
On the other hand, ARA is engaged in the acquisition, owning, holding, developing, improving, subdividing, selling, leasing, renting, mortgaging, managing and dealing of real estate for residential, commercial, industrial and recreational purposes.
Its property portfolio includes the San Jose del Monte, Bulacan property and Smelting Plant.
ARA booked a net income of
the year, up 7 percent from P13.30 million in the same period in 2018.
ments in Quezon City, namely Infina Towers, The Orabella and The Celandine.”
“We exceeded our first half target and expect further boost from our second half launches,” Austria said.
Due to the absence of non-recurring gain, DMCI Homes’ first half net income slipped by 34 percent to P1.23 billion from P1.88 billion on the previous year for the same period.
Meanwhile, its core net income for the period rose by 6 percent to P1.23 billion from year- earlier P1.16 billion.
Recently, DMCI Holdings reported it booked a P6.7-billion consolidated net income during the first semester, 22 percent lower than P8.6 billion on the previous year due to weaker performance of its energy, construction and mining units.