By Ma. Elisa P. Osorio (The Philippine Star) Updated March 09, 2010 12:00 AM
MANILA, Philippines - The real estate firm of presidential candidate Manny Villar, Vista Land and Lifescapes, announced yesterday that they will be spending P10 billion to finance the 30 new projects for this year.
The bulk of capital expenditures will be allocated for the construction and development of new projects.
Most of the new projects are intended for the affordable to mid-range housing market, where Vista Land has a strong brand and marketing presence, the company’s chief financial officer Manuel Paolo A. Villar said.
The new developments will bring the Vista Land group’s portfolio of projects to 157, distributed in 19 provinces and 46 cities and municipalities nationwide.
“One of our competitive strengths, unique to the group, is the breadth of our presence nationwide. We are building homes and communities in more provinces all over the country, compared to other real estate developers,” Villar said.
“Another unique strength of Vista Land is our Camella brand, the best known brand in the affordable housing segment, where most of the demand and sales volume are generated,” Villar added.
Camella, a landmark brand in the industry with an unmatched 33-year track record, is a pioneer in building affordable housing. He noted that the Vista Land group has built the largest number of homes among all local developers, a total of more than 200,000.
Other companies in the group are 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.
Recently, Camella has driven Vista land’s performance, contributing the majority of sales. Taking the cue from Camella, Villar said various players in the property industry are increasingly targeting the affordable housing segment, recognizing the opportunities in meeting the needs of most Filipinos who want to own homes.
In the case of Vista Land, about 60 percent of its market consists of OFWs, which the group has consistently served.
“A third key strength of Vista Land is the continuity and the depth of its management’s exposure in the industry, particularly in residential housing,” said Villar. “We have a high level of optimism that we will attain our financial and sales targets in 2010. Our revenue streams and margins have been steady, and we have been our managing expenses carefully.”
“As we look forward to launching Vista Land’s 30 new projects this year, we have great confidence in having the resources and know-how to efficiently sustain the cycle of planning, selling, developing and delivering projects to buyers. How well you execute that cycle is a big factor in shaping growth and success,” Villar said.