Posted on
June 18, 2013 10:23:21 PM [ BusinessWorld Online ]
VILLAR-LED
Vista Land and Lifescapes, Inc. has set a P10-billion borrowing program to
partially bankroll its capital expenditures for this year, an official said on
Monday.
“Our program
for this year is as follows: We will source about P6 billion from local banks,”
Ricardo B. Tan, the company’s chief financial officer, said in a text message
yesterday.
“Depending on
the market conditions here and overseas, we would consider raising up to P10
billion [but] it does not necessarily have to be taken in one transaction or
all done this year,” Mr. Tan added.
He said first
part of the borrowing program will be executed next quarter. “We expect to
complete the P6-billion [target] within the third quarter,” Mr. Tan also said,
noting that the remaining P4 billion may be raised through corporate bonds.
Sen. Manuel
B. Villar, founder of Vista Land, told reporters early this month that the
company has set a P18-billion capital expenditure budget for this year while
the firm was “ready” to hike this figure to up to P20 billion if needed.
This as Mr.
Villar said Vista Land will be launching 12 new Camella Homes projects in the
next “two to three months.”
Mr. Villar
identified some of the company’s new project locations as Cotabato, Aklan,
Roxas City, and Sta. Maria in Bulacan.
These new
projects will add to the more than 60 Camella Homes projects nationwide. Aside
from Camella Homes, Vista Land also owns other residential brands namely
Brittany, Crown Asia, Communities Philippines, and Vista Residences.
Mr. Villar
added that his company will also open four new malls this year on top of the
four existing ones.
The four new
malls will be located in Parañaque City, Antipolo City, Sta. Rosa in Laguna,
and San Fernando in Pampanga.
Under its
long-term plan, Vista Land is eyeing to build 50 malls in the next five to six
years, Mr. Villar said.
Vista Land
has so far delivered about 200,000 units to buyers since 1977, and claims to
have a presence in over 50 cities and municipalities nationwide, its Web site
showed. -- Cliff Harvey C. Venzon
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