Tuesday 28 January
Jan 7, 2020 @ 11:43

Roxas Group sells Batangas properties to SM, Sta Lucia

 

Roxas and Co. Inc. raised around P282 million from the sale of major real estate assets in Batangas.

In a disclosure to the stock exchange, RCI said subsidiary Roxaco Land Corp. sold a 2.8 hectare commercial property within the Nasugbu town proper to the SM Group for P98 million.

RCI, meanwhile, sold a 6.67 hectare beachfront property in Nasugbu, Batangas to Sta. Lucia Land Inc.

It also disposed of a highly sought-after 12.9 hectare eco-tourism property along the Tagaytay-Nasugbu Highway.

The divestments were in line with the group’s efforts to improve its net income and pare down overall debt.

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