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Vista Land enters Puerto Princesa property market

BY ALBERT CASTRO
[ Malaya.com.ph ] March 27, 2012

VISTA Land and Lifescape Inc. is entering the property market of Puerto Princesa City, though its Camella brand.

Vista Land will develop an 8-hectare property in Barangay Bancao-bancao into house-and-lot packages that will carry three of the developer’s housing designs, with floor areas ranging from 40 square meters to 179 sq.m. and prices of between P1 million and P4.7 million.

Camella Puerto Princesa will be developed into a Caribbean-themed gated community with amenities such as clubhouse, basketball court, playground, a commercial area, and shuttled service.

Jerylle Luz Quismundo, Camella president, said in venturing into Puerto Princesa City, the company is tapping into the city’s overseas Filipino market, Vista Land’s key target.

"The expansion into these geographical locations, particularly Puerto Princesa this time, is anchored on the strength of its overseas Filipino workers (OFWs) market. The expansion in these areas gives Filipino families more opportunities for home ownership as Camella provides options for low to mid-market segments at various price points," said Quizmundo in a Malaya Business Insight interview.

Camella Puerto Princesa is also positioned to buyers looking for second homes in the predominantly tourism-oriented city. Puerto Princesa is the 56th city to be ventured into by Vista Land, which haf projects in 22 provinces and 52 cities as of end-2011.

Vista Land will launch residential subdivision projects with a market value of P32 billion.

The company said studies have shown that the Vista Land brands, including Camella, remain the most preferred by homebuyers.

Vista Land has allocated a capital expenditure of P15 billion for the year, 45 percent higher than last year’s P11 billion. It is also targeting a sales reservation of P28 billion to P30 billion.

Camella is Vista Land’s subsidiary catering to the mid-market segment. It has 36 years of experience, has built more than 250,000 homes and maintains a strong presence in mega Manila and 28 other key provincial destinations and 56 cities and municipalities, while aggressively expanding to other regions.
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