Vista Land’s posts 13% in net income growth for 1Q18, Residential business sustained growth momentum
May 10, 2018

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, reported a 13% growth in net income for the first quarter of 2018 to P2.6 billion from P2.3 billion in the same quarter last year driven by the sustained growth momentum of its core residential business and the contribution from its leasing business. Consolidated revenues for the quarter ended at P10.1 billion, 12% higher than the P9.0 billion in the comparable period a year ago. Leasing revenue for the quarter increased by 14% to P1.6 billion from P1.4 billion in the prior year period.

“2018 promises to be another record year for Vista Land. We are pleased to have been able to achieve solid growth over the past years and it should be the same this year as we take advantage of the various synergies that we have unlocked among our businesses,” said Vista Land Chairman Manuel B. Villar. “Our positive outlook for the year is due to the continued growth of our housing business in addition to the expansion of our commercial assets on the back of sound Philippine macroeconomic fundamentals. We also are seeing stable demand in our housing business as we registered 12% growth in reservation sales for the quarter, the same rate as the full year growth registered in 2017”, he added. Vista also launched new projects totaling to about P12 billion in the first quarter of 2018.

The company’s total consolidated assets as of 31 March 2018 amounted to P210.8 billion compared to P199.9 billion in December of last year.

Manuel Paolo Villar, President & CEO of Vista Land stated, “We have seen a continued growth in our leasing business as we continue to roll out our expansion programs to achieve our new upgraded target of 1.4 million square meters in Gross Floor Area (GFA) by the end of this year. As a result, our leasing business now accounts for 28% of EBITDA and 23% of Net income and we expect this to increase towards the end of the year.”

Capital expenditures for 2018 are expected to reach P50 billion. “I remain confident about the prospects for our company,” said Manuel Paolo Villar.” In addition to the expansion of our rental spaces, which provides stability to our existing core and stable end-user housing business, we will continue to launch and open projects in new areas across the Philippines as we get on with our next 100 new cities and municipalities in addition to what we had at the end of 2017,” he explained. “Demand for our housing products has been stable as our sales from Overseas Filipinos remained solid at about 60% of our total sales and we are also seeing domestic demand increas,” he ended.

Vista Land has an established presence in 141 cities and municipalities across 47 provinces as of end March 2018 and intends to focus on the development of Communicities, - integrated urban developments combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components. 

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