Vista Land nets P5.8B for the 1 st semester of 2019, up 11%
August 14, 2019

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers, registered a 11% growth in net income for the first semester of 2019 to P5.8 billion from P5.2 billion in the same period last year. Consolidated revenues increased by 11% to P23.4 billion from P21.1billion in the comparable period a year ago. Leasing revenues for the period increased by 17% to P3.9 billion from P3.3 billion in the prior year period.

“We are very pleased with our 1st semester results which brings us closer to achievinganother record year,” said Vista Land Chairman Manuel B. Villar, Jr. “Vista Land continues to deliver solid performance, fueled by the performance of our core housing business in addition to our continued expansion in our commercial assets,” he added. “Our reservations sales grew 8% during the period to P41.0 billion, which is still majority Overseas Filipino and over 90% end-users. We remain optimistic for the industry given the sustained demand in our residential business as well as the continued growth of our leasing business propelled by the steady growth in the disposable income, Overseas Filipino remittances, sound Philippine macroeconomic fundamentals and continued infrastructure development around the country especially in areas outside Metro Manila, where we have a competitive advantage given our geographic reach.”

The company’s total consolidated assets as of 30 June 2019 stood at P252.4 billion compared to P238.3 billion in December of last year. Capital expenditures for the first half of the year amounted to P19.0 billion.

Manuel Paolo A. Villar, President & CEO of Vista Land stated, “We remain confident about the Company’s prospects for the rest of the year as we continue to expand our rental spaces which complements our existing core and stable end-user housing business. The strong performance of our leasing business came from the addition of gross floor area as well as growth in leasing revenue from our existing assets. Our leasable spaces are mostly retail malls which limits our POGOexposure to about 2% of the Company’s overall leasing portfolio. In terms of our residential business, we launched projects with an estimated value of P16.0 billion during the 1st semester of the year, most of which were low and affordable and outside Metro Manila.”

Vista Land 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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