By Richmond S. Mercurio (The
Philippine Star) | Updated September 22, 2014 - 12:00am
MANILA, Philippines - After mastering
the business of affordable housing, the Villar Group is now moving in the
upward direction with vertical residential developments to further boost its
real estate business.
In an interview with reporters over
the weekend, Vista Land & Lifescapes Inc. chairman Manuel B. Villar Jr.
said the company will be opening more residential condominiums in the future
through its condominium arm Vista Residences.
“Housing, we are used to that already.
We have shifted from just being an affordable housing developer. We will still
be focused on affordable housing, that would be our bread and butter, but I see
that going forward we will be busy in condominiums,” Villar said.
Villar said the company will try to
take advantage of Filipinos who prefer investing in condominium units instead
of the traditional house and lot.
“Condominiums will not go away,
whether there will be a glut or not it will not go away because there are many
people who prefer condominiums,” he said.
Vista Residences currently has a
portfolio of 16 condominium developments which are either underway or ready for
occupancy.
One of the company’s prime condominium
developments underway is Vista Shaw, a two-tower development with a project
value of P3.2 billion set to rise along Shaw Boulevard in Mandaluyong City.
The two-tower project sits on a
6,386-square meter of real estate. Each tower will be composed of 38 floors
with about 600 to 700 units in it.
Full-swing construction for the first
tower is on the way with its recent groundbreaking held last Aug. 29.
Villar said Tower 1 is already 55
percent sold to date and is expected to be fully sold by year-end.
Turnover date of the first tower is
eyed by 2018, Villar said.
Vista Shaw features its own commercial
complex as well as a contemporary design and modern-day amenities.
“In our vertical developments, we make
it a point that every unit exudes a warm, homey feeling through the design and
the functionality units as well as in the amenity areas. We don’t want our
clients to feel that they are living in a box, compromising their sense of
comfort. In addition, we make sure that our brand of customer
service
also extends that warm and friendly
Filipino treatment,” said Vista Residences division head Elizabeth M. Kalaw.
Vista Land, the country’s largest
homebuilder, already has residential housing developments in 34 provinces and
74 cities and municipalities around the country. The property firm has
completed more than 250,000 housing units in the past 38 years.
___________________________________________________________
