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 eyes more condo projects in 2011
September 15, 2010
Vista Land and Lifescapes plans to open more low-rise and mid-rise residential condominiums by 2011 after successfully opening a total of 17 low-rise and mid-rise buildings spread across different projects and catering to different market segments with an
Read More >>

Vista Land to roll out P7.5-B projects in '11
September 15, 2010
Following the successful launch of 17 low-rise and mid-rise buildings, Vista Land & Lifescapes plans to roll out P7.5 billion worth of new vertical development projects next year.
Read More >>

Vista Land to spend P12.5B for new residential projects
September 15, 2010
Vista Land and Lifescapes plans to boost its low- and mid-rise residential condominium business by putting up P12.5 billion worth of lower-density buildings through 2011.
Read More >>

Vista Land readies 2011 expansion
September 15, 2010
Vista Land and Lifescapes Inc. said it plans to roll out more low- and mid-rise residential condominium next year aimed to serve the growing demand.
Read More >>

New Vista Land Projects
September 15, 2010
Vista Land and Lifescapes Inc., owned by the family of Senator Manuel Villar, plans to launch several low-rise and medium-rise residential buildings valued at P7.5 billion.
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.