By Neil
Jerome C. Morales (The Philippine Star) | Updated February 25, 2013 - 12:00am
MANILA,
Philippines - The real estate and retailing units of the family of Sen. Manuel
B. Villar are positioned for more expansion this year given the robust economy.
Vista Land
& Lifescapes Inc. will tap 12 new locations in the country while Starmalls
Inc. will increase its shopping malls and convenience stores, its founder said.
“We are
opening in more areas this year like in Pagadian and Ozamis, minimum of 12
areas this year,” Vista Land chairman and founder Manuel B. Villar said on the
sidelines of the Punongbayan & Araullo’s 25th anniversary celebration.
“Right now we
have covered the entire country, but additional 12 will make us saturate the
country,” Villar said.
To date,
Vista Land is present in 31 provinces and 63 cities and municipalities around
the country. Last month, the company launched the Camella Ozamiz,
Caribbean-themed community in Ozamiz, one of the most progressive cities in
Mindanao.
Villar said
Vista Land is poised to post another double-digit growth this year.
The company
should record its third straight year of double-digit growth this year, Villar
said.
“We
definitely had a good year in 2012. We met our target, slightly higher,” Villar
said.
Riding on the
wave of a booming property market, Vista Land targets a net income of P4.2
billion and P16 billion in revenues for 2012, which would be 19 percent and 18
percent higher, respectively, from 2011.
In the past
35 years, Vista Land has completed more than 250,000 housing units. It has a
strategically located land bank of almost 2,000 hectares nationwide.
Vista Land is
the holding company of five business units: Brittany, Crown Asia, Camella
Homes, Communities Philippines and Vista Residences.
For the
retailing business, Villar said four to five new Starmalls will be put up this
year.
Last year,
the Starmall group started its P15-billion capital expenditure program over the
next five years as it embarks on a nationwide expansion which will include the
opening of new malls in Visayas and Mindanao.
In April
2012, or barely three months after the termination of its rehabilitation
program, holding firm Manuela Corp. opened its newest mall, Starmall San Jose
del Monte, a three-level structure with gross floor area of 35,700 square
meters (sqm.) and the first shopping complex in the biggest city in Bulacan.
The project
brought Manuela’s mall portfolio to five, with an aggregate gross floor area of
363,000 sqm. and 1,777 tenants.
Finds
convenience store will also double its outlets to 100 this year, focusing on
Metro Manila, Villar said.
Given low
interest rates, Villar said Vista Land might tap the debt market while Starmall
is looking to secure funds through debt and equity.
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