[ Malaya.com.ph ] February 22, 2010
Sustaining its momentum in the condominium segment, publicly listed holding company Vista Land continues to expand its role in condo construction with the in Quezon City of Wil Tower Mall, its anchor development for 2010 under Vista Residences, the group’s consolidated brand for condominium developments.
Vista Land said the project will generate over P4 billion in revenues and is targeted for completion in 2014.
"Investing steadily in residential condo development is a strategic decision of Vista Land with a long-term perspective," company CEO Jing Serrano said.
He said that unlike home and lot developments, condo projects pose different demands, with a longer gestation period.
"An entire building needs to be completed each time, not merely individual units as in horizontal projects. But the long-term growth of the segment is there, and residential condos will increasingly contribute to revenue," Serrano said.
Wil Tower Mall has a premium location across the ABS-CBN compound along Eugenio Lopez Drive in Quezon City, offering proximity to the city’s media hubs ABS-CBN and GMA; top healthcare facilities St. Luke’s Medical Center and Cardinal Santos Medical Center; academic institutions UP Diliman, Ateneo de Manila and Miriam College; and the shopping and leisure destinations of SM North EDSA, Trinoma, Gateway Mall and Araneta Center.
As a 42 storey mixed-use condominium project, Wil Tower Mall will be the tallest and most upscale building in the area, with two 38-storey residential buildings hoisted on 4 podium levels housing commercial, high-end establishments.
The project’s amenities will include a supermarket, specialty restaurants, and a range of leisure and fitness facilities.
"With this condominium project, we are providing highly advantageous value to occupants, investors and residents," Serrano said.
Since 2006, Vista Residences has generated a line-up of 14 condo projects that have been built, are being completed or will be launched this year, demonstrating the group’s capability to marshal resources effectively, maintain a high level of operational efficiency and achieve defined business targets.
______________________________________________________________
