By Zinnia B. Dela Peña (The Philippine Star) Updated July 04, 2011 12:00 AM
MANILA, Philippines - Giant homebuilder Vista Land & Lifescapes Inc. is spending at least P5 billion for its Sta. Elena township project which would include its first venture into office building development.
Benjamarie N. Serrano, chief executive officer and president of Vista Land, said the P5 billion forms part of the company’s P45-billion capital expenditure program from 2011 to 2013.
Serrano said a total of 13 hectares are being earmarked for the construction of neighborhood centers, commercial developments, business process outsourcing and office spaces to complete Sta. Elena City, a masterplanned integrated community to rise on a sprawling 300-hectare property in Sta. Rosa, Laguna.
The BPO and commercial projects are expected to generate P1 billion in lease income for Vista Land.
The Business Processing Association of the Philippines, Commission on Information and Communications Technology (CICT) and Department of Trade and Industry (DTI) have identified Sta. Rosa as among the 10 “next wave cities” in terms of their potential as information technology-business process outsourcing hub.
The Quiros family together with Vista Land envisioned a development in the South that successfully combines old world charm with world-class developments that co-exist with its natural environment.
Almost 190 hectares of the property has been fully developed with already thriving high-end and upper mid-range projects of Vista Land’s Brittany and Crown Asia brands.
University of Santo Tomas, the oldest university in Asia will rise in a 45-hectare property while the Acacia Waldorf School, an exclusive pre-school and elementary known for its holistic approach to teaching is already set-up inside Hacienda Sta. Elena.
Recognizing the strong potential of Sta. Rosa, other developers have only recently come out with their own masterplanned projects in Sta. Rosa comprising both residential and office developments.
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