Sta. Lucia Realty and Development, Inc. (SLRDI) is the joint venture partner of ARA in the development of Colinas Verdes properties. The common confusion is investing in Sta. Lucia Land, Inc. (PSE: SLI) for the reason that they have interest in Colinas Verdes.
SLRDI is the parent of SLI thus SLI will derive no economic benefit in SLRDI’s interest in Colinas Verdes.
Kindly see SLI’s annual report:
In p.16 under the “residential and commercial properties” section notice that you won’t find Colinas Verdes in the list.