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Vista Land sees 2013 sales increasing to P50b

By Jenniffer B. Austria | Posted on May. 16, 2013 at 12:01am |
[ manilastandardtoday.com ] 
Property developer Vista Land and Lifescapes Inc. said Wednesday reservation sales are expected to rise between 15 percent and 20 percent this year to as much as P50 billion, as it aggressively expands to the provinces.
Vista Land chief finance officer Ricardo Tan said in a news briefing the company planned to launch P30 billion worth of residential projects this year, mostly under the affordable brand Camella.
Vista Land disclosed its aggressive financial targets for the year, after posting impressive first-quarter results.
The company said net income in the first quarter surged 29 percent to P1.34 billion from P1.03 billion year-on-year, as revenues jumped 21 percent to P4.86 billion and reservation sales grew 16 percent to P11.7 billion.
Vista Land president and chief executive Manuel Paolo Villar said the company launched 11 subdivision projects in the January-March period, including eight in the low and affordable segments.  These 11 projects have total sales value of P6.4 billion.
The company said outside Metro Manila, it launched projects in Bulacan, Bataan, Cagayan de Oro, Pampanga and Tarlac.
“I fully expect our Camella brand to continue to dominate the housing market nationwide and as we successfully execute our strategy of bringing our brands to new areas, our position as the dominant player will be solidified even further,” Villar said.
Vista Land said it also continued to develop major mixed-use communities such as the Evia in Daang Hari [Cavite], Lakefront in Sucat and Crosswinds in Tagaytay City.
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