Vista Land Q3 profit jumps 13%
November 11, 2019

VISTA LAND & Lifescapes, Inc. expanded its earnings by 13% in the third quarter, as its real estate sales continued to grow.

The Villar-led property developer posted a P3.16-billion attributable net income in the July to September period, from P2.87 billion a year ago.

Consolidated revenues climbed 7% to P10.96 billion as expenses rose 12% to P6.98 billion during the same three months.

Broken down, real estate sales went up 3% to P8.19 billion, while rental income slipped 4% to P1.59 billion. Interest income surged 92% to P663 million. Miscellaneous income, which refers to “forfeited reservation fees and partial payments from customers whose sales contracts are cancelled before completion of required down payment,” soared 60% to P529 million

Year to date, the company’s attributable net income stood at P8.83 billion, up 12% from last year.

This was driven by a 9% growth in consolidated revenues to P34.36 billion. Leasing revenues increased 13% to P5.8 billion during the nine-month period. Reservation sales also grew 8% to P61.6 billion, coming mostly from overseas Filipino workers.

Expenses in the nine months jumped 12% to P21.13 billion.

“We are well-poised to achieve another record year this 2019 as Vista Land continues to deliver solid performance both from our leasing and residential businesses,” Vista Land Chairman Manuel B. Villar, Jr. said in a statement over the weekend.

“As what we have said in the past two quarters, we remain bullish for the industry, given the sustained demand for our housing products as well as our success in our leasing business propelled by the steady growth in the disposable income, Overseas Filipino remittances, sound Philippine macroeconomic fundamentals and the government’s drive to accelerate economic activities and infrastructure developments outside Metro Manila, where we have a competitive advantage given that we have the widest geographic reach around the country,” he added.

Vista Land President and Chief Executive Officer Manuel Paolo A. Villar also noted the company is motivated by the strong growth of its existing investment properties of more than 1.4 million square meters.

“We remain confident about the company’s prospects for the rest of the year as our leasing portfolio will be growing which complements our existing core and stable end-user housing business,” he was quoted as saying. — Denise A. Valdez

Vista Land raises US200M from note issue
July 14, 2020
Vista Land & Lifescapes, Inc., one of the country’s largest integrated developers and the biggest homebuilder, has successfully raised US0 million from the issuance of 7.25 percent Senior Guaranteed Notes Due 2027.

Vista Land raises P10B from bond offer
December 16, 2019
Vista Land and Lifescapes, one of the country’s leading property developers and the biggest homebuilder, has raised P10 billion from its recent bond offering.

Vista Land sets interest rates for retail bond offering
November 29, 2019
VISTA LAND & Lifescapes, Inc. (VLL) has set the interest rates for the fixed-rate retail bonds worth up to P10 billion that it is set to issue next month.

Vista Land bond issue secures top credit rating
November 19, 2019
VILLAR-LED Vista Land & Lifescapes, Inc.’s (VLL) planned P10-billion bond issuance received the top credit rating from a local debt watcher.

Vista Land, Mitsubishi Estate team up on Taft condo project
November 19, 2019
Villar family-led Vista Land & Lifescapes Inc. (VLL) has teamed up with Japanese real estate developer Mitsubishi Estate Co. Ltd. to develop a high-rise residential condominium along Taft Avenue in Manila.

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