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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