By Zinnia B. Dela Peña (The Philippine Star) Updated March 19, 2010 12:00 AM
MANILA, Philippines - Capitalizing on strong demand for affordable housing, Vista Land & Lifescapes Inc. has lined up 22 new projects this year under the Camella brand, translating to 17,500 new units located all over the country.
In a statement, Vista Land said the move is aimed at further cementing Camella Homes & Communities’ dominant position in the affordable housing segment and boost its total portfolio to 97 projects nationwide.
Camella president Maribeth Tolentino said these new projects will be put up in various areas in Mega Manila as well as in key provinces and cities outside Luzon such as Cebu, Iloilo, Tacloban, Cagayan de Oro, Davao and Gen. Santos.
“We are leveraging the bigness of Camella, in terms of geographical reach, land banking, contribution to group sales, number of houses built and other key attributes, to achieve two aims more effectively. One is to be the first choice of home buyers on the basis of long-term satisfaction based on enduring quality and value. The other is to achieve higher levels of financial and operational efficiencies, and thus profitability,” she said.
Tolentino said the company, which has been providing value for money homes in master-planned communities for over 30 years, is targeting overseas Filipino workers who want to buy a house of their own.
Vista Land has earmarked P10 billion for capital expenditures this year for the launch of 30 new projects and landbanking activities. This would bring the group’s total number of projects to 157 , widely dispersed in 19 provinces and 46 cities and municipalities
Vista Land has built the largest number of homes among all local developers, a total of more than 200,000. Other companies under its wing include Brittany, which builds high-end communities; Crown Asia, focusing on the mid-range category; Communities Philippines, which develops projects in the provinces; and Vista Residences, the newly launched company and brand name which consolidates all of the group’s residential condominium projects.