Written by : KRISTA ANGELA M. MONTEALEGRE REPORTER
Vista Land and Lifescapes Inc. Expects reservation revenues to grow by a quarter this year as the property firm’s flagship brand Camella continues to expand in the countryside.
In a statement, the Villar-led real estate firm said that it is also targeting reservation revenues of as much as P30 billion for 2012, higher than its P24-billion target last year.
The property developer earmarked P15 billion for its capital expenditure program this year, 45 percent higher than last year’s capex budget, Ricardo Tan, Vista Land chief finance officer, said in a previous interview.
A portion of the capex program will be funded through debt, most likely through a peso-denominated bond or notes issuance in the first half of the year, he added.
This year, Vista Land will roll out 32 subdivision projects and eight residential condominiums with a total project value of P42 billion.
Anchored on the strength of its overseas Filipino workers (OFWs) market, Camella will pursue its expansion outside Metro Manila, having established its presence in 28 provinces and 56 cities and municipalities.
“And since a good number of our OFWs hail from the provinces, there is strong preference for house and lot in their hometown or province of origin which they intend to live-in with their families,” Jerylle Luz Quismundo, Camella president, said.
“As the runaway leader in horizontal housing, we intend to further cement our hold in this market with the country-wide expansion,” she added.
The expansion outside the major urban centers gives Camella a significant role in bringing progress to and in developing the economies of the communities where it has undertaken property projects.
Camella Candon, an 11-hectare master-planned development project, has emerged as the growth center in Ilocos Sur. As of August 2010, the project has attracted new investments totaling P104 million.
Located along McArthur National Highway, Candon City easily connects to other nearby growth centers, like Vigan City, San Fernando City in La Union, and Baguio City.
In the south, Camella is developing Camella Puerto Princesa, aimed at OFWs and their families, as well as retirees.
Camella Puerto Princesa is an eight-hectare project in Barangay Bancao, which is being developed into house-and-lot packages that will carry three of the developer’s housing designs. Floor areas will range from 40 square meters to 179 square meters. The house-and-lot packages will be priced at between P1 million and P4.7 million.
Camella Puerto Princesa will be developed into a Caribbean-theme gated community with amenities such as clubhouse, basketball court, playground, commercial area and shuttled service.
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