Published on
Friday, 22 March 2013 00:00
Malaya
Business News Online - Philippine Business News | Online News Philippines
Villar is
confident that the property market is assured of a good run for the next three
years in which Vista Land is expected to benefit.
Vista Land
and Lifescapes, Inc. is confident this year’s activity will continue to be
favorable for the company, seeing overall performance indicators as going up by
double digits.
Richard Tan,
Vista Land chief finance officer, said they expect profit and revenues to
improve between 15 and 20 percent for the year from last year’s P4.38 billion
and P16.34 billion respectively as the company continue to build more
residential units all over the country.
The more
indicative predictor of growth of reservation sales meanwhile is seen to
improve by 15 percent this year from last year’s P40.09 billion.
“Our strategy
is paying off handsomely and given the strength of the property market,
particularly housing, we will continue to focus on bringing the Camella brand
to families around the country,” said Manuel Paolo Villar, Vista Land’s chief
executive officer.
Villar
expressed confidence that the property market is assured of a good run for the
next three years in which Vista Land is expected to benefit.
Vista Land
said last year’s P4.38-billion profit was a 24 percent improvement over the
previous year’s P3.53 billion, while the P16.34-billion revenue was a 21
percent uptick from the previous year’s P13.51 billion.
“We have
exceeded our target for last year when we targeted a 21 percent profit growth
and a 20 percent revenue growth. 2012 is the best year for Vista Land since
2007,” said Tan.
Vista Land
was the former C&P Homes, Inc., which was restructured by the Villar family
in 2007 after several years in the doldrums as a result of the 1997 Asian
financial crisis.
“This year
will be another record year for us,” said Tan, noting that the company’s tack
will remain in developing affordable housing units under the brand Camella.
At 34 percent
of total revenues, Camella’s contribution in Vista Land is the biggest among
the four brands of the company. Units Crown Asia contributed 12 percent;
Brittany 13 percent; Vista Residences 5 percent; and Communities Philippines 36
percent.
Communities
Philippines is not a particular brand within the Vista Land group but a
marketing arm of the company that sells the other four brands outside greater
Manila area.
“We will
continue to take advantage of the demand in the province and greater Manila for
Camella,” said Tan who noted that “market demand for housing, particularly for
Camella in the provinces, continues to be robust” without a hint of any
slowdown.
________________________________________________________________________
