Villar’s Vista Land sets P25-B capex
August 03, 2020

VISTA LAND & LIFESCAPES, Inc. (VLL) is allocating P25 billion for capital expenditures (capex) this year to continue supporting construction and land banking plans.
In a statement over the weekend, the Villar-led property developer said it was revisiting its pipeline of projects for 2020 in light of changing consumer behavior due to the coronavirus pandemic. Its P25-billion capex this year is lower than its 2019 capex of P38.29 billion and 2018 capex of P45.05 billion. About 90% of the allocation is intended for construction and land development, while 10% is for land acquisition and payment of land payables.
“We are revisiting our planned project launches as well as the expansion program of our leasing business for the rest of the year. And as previously mentioned, we have the capacity to fast track construction if we deem it necessary,” VLL Chairman Manuel B. Villar, Jr. was quoted as saying.
The company’s plan is to continue building integrated urban development that combine retail, office and residential projects along with healthcare and leisure components.
It said it draws optimism from its residential business, which has been recording improving sales to about 70% of pre-pandemic levels since June. The growth is attributed to its investment in digital platforms, which allows buyers to connect with VLL online.
“We are hoping that these encouraging signs in our residential business will continue,” VLL President and CEO Manuel Paolo A. Villar said in the statement.
“With the growing importance of staying at home, we are also seeing an increased preference for our housing products especially in the provincial areas. We are now taking advantage of Vista Land’s geographic reach, being present in 147 cities and municipalities across the country,” he added.
VLL’s profits fell 8% to P2.34 billion in the first quarter due to delayed project completions. The pandemic-related lockdown pulled down its revenues by 3% to P9.93 billion with the suspension of construction activities.
Shares in VLL at the stock exchange ended Thursday’s session at P3.12 apiece, up six centavos or 1.96% from a day ago. — Denise A. Valdez
https://www.bworldonline.com/villars-vista-land-sets-p25-b-capex/

Vista Land H1 profits up 21%
August 15, 2011
VILLAR-LED Vista Land & Lifescapes, Inc. realized a 21% hike in its first-half net income to P1.7 billion from yearago levels, the developer said in a disclosure to the local bourse on Monday.
Read More >>

Sales boost Vista Land earnings
August 15, 2011
Strong revenues buoyed the net income of property holding company Vista Land & Lifescapes Inc. in the year's first half.
Read More >>

Vista Land profits up 21% in H1
August 15, 2011
Villar-led Vista Land Holdings Inc. reported that profit for the first half of the year reached P1.7 billion, up 21 percent from the previous year’s P1.4 billion, as the company booked P6.6 billion in revenues for the period compared with the previous y
Read More >>

Vista Land creates own market niche
July 28, 2011
THERE are several reasons why Vista Land of Manuel Villar is building low-end detached homes.
Read More >>

Changing of the guard at Vista Land
July 25, 2011
The eldest son in the Villar family is taking control of the family-controlled Vista Land and Lifescape Inc.
Read More >>

previous | 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | 29 | 30 | 31 | next
Home About Vista Land News Investor Relations Contact Us Privacy Policy

Vista Land & Lifescapes, Inc. Upper Ground Floor, Worldwide Corporate Center, Shaw Boulevard, Mandaluyong City, 1552 Philippines

Copyright 2011-2017 Vista Land & Lifescapes Inc.