By Jenniffer B. Austria | Sep. 30,
2015 at 11:15pm [ manilastandardtoday.com ]
Homebuilder Vista Land &
Lifescapes Inc. said Wednesday it earmarked P40 billion to develop a
500-hectare property in Iloilo province into a mixed-use township development.
Vista Land said in a disclosure to the
Philippine Stock Exchange Vista City Iloilo would be the company’s flagship
development in Visayas with several components, including malls, hotels, office
buildings for the business process outsourcing industry and hospitals.
Vista Land has allocated at least 100
hectares of the property to the City Center, where the BPO offices, shopping
establishments and hotels will be located.
Vista City Iloilo currently houses two
residential villages, which the company initially developed in 2000, supported
by various amenities including a school offering primary to secondary
education, five clubhouses, parks and playground.
“The integration of the residential
project with commercial development will complete Vista City Iloilo’s
transformation into a ‘communicity’ with adequate security and convenient
transportation services,” Vista Land said.
Vista City Iloilo, which will cover
about 500 hectares, spans across Oton, Pavia and San Miguel on Panay Island. It
is located near schools, including the University of the Philippines Visayas,
Central Philippine University, University of San Agustin, and West Visayas
University. It is also close to the Western Visayas Medical Center and The
Medical City Iloilo.
Vista Land, the real estate unit of
the Villar group, is focused on developing horizontal housing projects as well
as integrated developments dubbed as “communicities.”
“Communicities are innovative
master-planned city developments designed to be completely self-contained, with
vast properties that offer facilities, amenities, community structures and
commercial establishments closer to a city than a mere residential village,”
Vista Land said.
Major players in the real estate
industry, including Megaworld Corp. and DoubleDragon Properties Inc., recently
expanded to Iloilo as the province has emerged as an economic hub of Western
Visayas.
Vista Land, which has built over
300,000 homes, has established a presence in 35 provinces and 90 cities and
municipalities catering to various segments of the market.
To date, the group has 23 innovative
master-planned city developments spread all over the country.
Share price of Vista Land on Wednesday
closed at P5.03, down P0.04.
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