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Vista Land targets P10-B sales

Posted on September 30, 2012 09:29:06 PM [ BusinessWorld Online ]

LISTED property developer Vista Land & Lifescapes, Inc. expects combined sales from The Hudson at the Fort and The Alpine Village, its new upscale residential projects in Bonifacio Global City (BGC) and Tagaytay City, respectively, to reach about P10 billion, a company official told reporters during the projects’ joint launch in Makati Shangri-La on Friday last week.
Architect’s rendition of The Alpine Village project in Tagaytay City provided by Brittany Corp.

“Sales value for Hudson is around P3 billion, and around P7 billion for Alpine,” said Nova J. Noval, marketing head of Vista Land’s subsidiary Brittany Corp. which targets the high-end residential market.

So far, pre-selling has been robust for both projects, Ms. Nova said, noting: “At the rate we’re going, hopefully we’ll be sold out by the end of the year.”

Bulk of unit buyers at The Hudson at the Fort and The Alpine Village are businessmen, another company official said. “We usually have entrepreneurs and self-employed people [buying units] at these developments,” Ricardo B. Tan, Jr., Vista Land chief financial officer and compliance officer, said in a separate interview. “A good 30% are foreigners.”

The Hudson at the Fort is a 28-storey mixed-use residential condominium set to rise at the corner of 20th and 21st Drives in BGC’s East Forbes district, also known as “Millionaire’s Row,” according to Brittany’s Web site.

The Hudson at the Fort will offer 141 one- to three-bedroom units, as well as four Elite Garden Suites and two Penthouse Suites, Vista Land said last week. The first two levels will house upscale dining, retail, and service establishments to cater to residents, while corporate spaces will be on the eighth and ninth floors.

The Alpine Village, meanwhile, is a seven-hectare residential and commercial complex in Crosswinds, Brittany’s 100-hectare, Swiss-inspired prime leisure development in Tagaytay City, a statement said on Friday. The Alpine Village will feature three residential towers patterned after Swiss chalets, shops and restaurants.

The Alpine Village is scheduled to be completed in 2014, while The Hudson at the Fort should be operational by 2017, Mr. Tan said.

Vista Land shares gained three centavos or 0.63% to P4.78 last Friday from P4.75 on Thursday.

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