September 24, 2013 7:32 pm [ manilatimes.net ]
by MADELAINE B. MIRAFLOR
Vista Land and Lifescapes Inc., the country’s largest homebuilder, recently opened its P1-billion Paseo de Andalusia in Pampanga, with a plan to start phase 2 of the lifestyle center within the year.
Paseo de Andalusia, a village center that would primarily cater to residents of Vista Land’s eight-hectare Spanish-themed community in the area, is located along McArthur Highway.
Former senator Manny Villar, Vista Land chairman, told reporters that the company is now doing preparatory works to start phase 2 of Paseo de Andalusia, which involves the development of more stores, among others.
He added that the construction of the second phase of the project will begin before the year ends.
Vista Land, in developing residential projects, always sets aside a portion of its property for future development.
Other Vista Land shopping centers are The Lakefront Wharf and The Lakefront Boardwalk in Sucat, Evia in Daang Hari, Vista Town Center in Antipolo, Vista Town Center in Cagayan de Oro and Savannah, Vista Land’s flagship project, in the Visayas region.
For this year, Vista Land is looking at a conservative growth of 15 percent as it intends to slow down its development of high-rise projects.
“We are looking at reducing our high rise exposure,” Villar said.
“So, [we’re only looking at] more or less 15-percent growth in revenues and profits in 2014,” he added.
Meanwhile, in the next five to 10 years, Vista Land is targeting to have 15 masterplanned communities nationwide.