February 06, 2012
With the success of forays into mid- and high-rise projects last year, top home builder Vista Land & Lifescapes is aiming to launch eight more vertical residential condominiums with a total project value of P10 billion.
“Despite fears of over-expansion in the supply of residential condominiums, our vertical projects were well received by the market and this has encouraged us to develop additional phases of existing projects,” said Vista Land President and CEO Manuel Paolo A. Villar.
He added that they are also eyeing five new areas for acquisition where the company intends to build high or medium rise residential projects.
Vista Land chief financial officer Ricardo B. Tan, Jr. said they are expanding two projects that will have a total value of P3 billion and P7 billion for six new projects. In 2011, Vista Land launched seven vertical projects worth P6 billion.
Villar said the launch of Camella Condo Homes was a strategic move aimed at leveraging on the success of Vista Land’s Camella Homes in the horizontal residential sector.
He noted that “MRBs share similarities with horizontal residences, and are a logical alternative for our buyers, many of them OFWs who consider owning a home a top priority.”
The Bangko Sentral ng Pilipinas said funds sent home by Filipinos working and living overseas increased 10.6 percent in November 2011 from a year earlier to .78 billion. Money sent home by the more than 8.5 million Filipinos living overseas is equivalent to about 10 percent of the economy and helps support home and property sales.
The existing MRBs include Pinecrest on Aurora Blvd. and Madison in Cubao,
Quezon City, Marfori and Presidio at Lakefront in Sucat, Pacific Residences in Taguig City, and Northpoint in Davao City.
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Vista Land to Launch P32-B Worth of Horizontal Projects in 2012 January 30, 2012 Vista Land & Lifescapes, Inc. is launching 32 residential subdivision projects nationwide in 2012 with a total project value of P32 billion to further solidify its record as the country’s runaway leader as house and lot developer. Read More >> |
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Vista Land delivers record sales for 3rd quarter 2011 November 14, 2011 Vista Land & Lifescapes, Inc., the country’s largest homebuilder, reported that the company delivered record sales for the third quarter of 2011. Sales for the 3rd quarter reached over PHP6.2 billion pesos, bringing the total for the first nine months o Read More >> |
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Vista Land reports 21% increase in net income; sees full-year sales hitting record levels August 15, 2011 Vista Land & Lifescapes, Inc., the country’s largest homebuilder, reported a 21% increase in the company’s net income for the first half of 2011 to PHP1.7 billion compared to PHP1.4 billion during the first half of last year. Read More >> |
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Vista Land first quarter net income up by 26%; declares special cash dividend May 17, 2011 Vista Land & Lifescapes, Inc., the country’s largest homebuilder, announced that the company’s net income for the first quarter of this year compared to the first quarter of 2010 rose by 26% to P873 million from P694 million Read More >> |
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Vista Land eyeing expansion in 16 more new areas May 03, 2011 Property holdings group Vista Land and Lifescapes, Inc., the country’s largest homebuilder, has disclosed its plans for a major expansion drive to 16 new areas across the country. Read More >> |
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