Araneta Properties Inc. and Sta. Lucia Land inked an agreement to expand their existing 230 hectare Colinas Verdes project in San Jose Del Monte, Bulacan.
Under the new deal, Araneta Properties will add another 58 hectares to the existing development to take advantage of the strong demand for residential lots in the area, which is within a kilometer of the proposed MRT-7 station along Quirino Highway in Caloocan.
“We are very confident in the sale of this new expansion area for Colinas Verdes,” said company chairman Gregorio Ma. Araneta III.
“This increases our Colinas Project with Sta. Lucia to almost 300 hectares, and will complement the existing Colinas development as well as our soon to be launched country club and the other areas of development of the Araneta Group in the vicinity,” he said.
Aside from this project with Sta. Lucia, Araneta Properties has in its inventory an additional 215 hectares of land in Bulacan and in Ilocos Norte which is a major part of the Araneta Group’s total land bank of about 600 hectares in Caloocan, Bulacan, and Ilocos.
The group is also in talks with another major real estate developer to develop a new township in Northern Metro Manila.