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Vista Land expands to Baguio

Published on Wednesday, 05 December 2012 23:00
Written by ALBERT CASTRO [ Malaya.com.ph ]
Vista Land and Lifescape, Inc. (Vista Land) will soon add Baguio City to its list of project sites.
The company set to unveil its maiden project in the summer capital by early next year.
Manuel Paolo Villar, Vista Land president and chief executive officer, declined to give details of the project but said Baguio is a candidate site for a similar Crosswind-type tourism-estate project of Vista Land, which is gaining attention in Tagaytay City in Cavite.
Company founder and Villar patriarch, Sen. Manuel Villar said a second tourism-estate by the company may be up for groundbreaking by the end of 2013 after the success of its pioneering 100-hectare Tagaytay Crosswinds, a Swiss-inspired township project boasting of its own swath of pine trees planted by the company since its inception in the mid-1990s.
“But it could also be in another area,” the younger Villar said.
Vista Land has continuously expanded its reach in the Philippines, opening projects in various cities and provinces in the country. As of end September, Vista Land has projects in 60 cities and 28 provinces in the country.
In the first nine months of the year, Vista Land launched 22 new projects with an estimated value of P20 billion, 12 of them outside Mega Manila, and five of them located in new areas. Capital expenditures for the year are expected to reach P15.2 billion.
The younger Villar earlier said Vista continues to look for new land to acquire to increase its 1,932.1-hectare landbank, located mostly in Mega Manila --- Metro Manila and Cavite, Laguna, Rizal, Batangas and Bulacan. Mega Manila comprises 78 percent of the total landbank.
Villar said Vista Land is eyeing areas with a minimum size of 30 hectares, suitable for large mixed-use development. It is also interested in privatization of government-owned lands.
Villar said Vista Land would rather buy a large tract of land in one go.
Vista Land remains optimistic of the prospects of the property marketas a result of the continuously improving economic environment, as well as its position in the end-user market.
The elder Villar said Vista Land enjoys the position of “choice provider” for the end-user market.
“I expect interest rates to remain low. Demand is steady especially in the end-user market where we are,” Villar said.
Villar also said these give them confidence to open up more projects in new areas all over the Philippines --- four in Northern Luzon, three in Bulacan, two in the Rizal province, three in Visayas and five in Mindanao.
In the first nine months of the year, Vista Land posted a profit of P3.23 billion, up from P2.61 billion last year.
Consolidated revenues reached P12.15 billion, up 23 percent from P9.9 billion a year ago.
Vista Land realized a sales worth P30.1 billion for the period, 39 percent higher than last year’s P21.6 billion. The company targets P40 billion in sales for the year.
The younger Villar expressed confidence of exceeding earnings guidance for the year.
“Based on our stock market performance, it seems investors believe so as well,” said Villar.
“In spite of continued market uncertainties in Europe, the strategies we have adopted will allow us to meet our full year sales and revenue targets,” Villar added.
Ricardo B. Tan, Jr., Vista Land chief financial officer, said they are “averaging P10 billion in sales every quarter” which makes them confident of hitting the target.
“Most of our sales have been coming from our flagship Camella brand, both in Metro Manila and in the provincial areas. We fully expect to see continued strong sales performance in the coming years as demand for house and lots, particularly in the mid- to low- end segment of the market, continues to be extremely robust. We launched subdivisions in five new areas for the first nine months, including two in Ilocos Sur, Bohol, Palawan, and Batangas,” he added.
Of Vista Land’s revenues for the period, a third was contributed by its mid-market brand Camella and another third by the marketing unit Communities Philippines. The brand Britanny contributed 15 percent, CrownAsia 13 percent, and Vista Residences 5 percent.
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