A leading property developer in the Philippines has set aside P30 billion this year to enhance its residential offerings and expand its land holdings. Vista Land & Lifescapes Inc. plans to allocate 98 percent of its capital expenditures budget to the construction of residential units and land development, with the remaining two percent going towards land acquisition and investment properties construction.
During the first quarter of the year, Vista Land saw an 11 percent year-on-year increase in net income to P3 billion, driven by the launch of P10.1 billion worth of projects nationwide. The company’s revenue also grew by 11 percent to P10 billion, with real estate revenue at P5 billion and rental income at P4.1 billion.
Vista Land’s president and CEO Manuel Paolo Villar expressed satisfaction with the company’s performance, noting growth in both residential and commercial segments. The company remains focused on optimizing its land assets through Vista Estate developments and is committed to launching premium projects catering to the upscale market.
With a portfolio that includes 42 malls, 56 commercial buildings, and seven office buildings totaling 1.6 million sqm of leasable space, Vista Land continues to prioritize mixed-use developments blending residential and commercial components. The company’s financial condition remains strong, providing flexibility to capitalize on opportunities in the real estate sector.
Looking ahead, Vista Land aims to maximize and optimize its assets through Vista Estates while expanding its reach in the horizontal residential market with launches in various provinces. With a strategic focus on geographic diversity and a mix of residential products, the company is optimistic about its prospects for the rest of the year.
