Latest Stories

Vista Land expanding in provinces


The Villar group is expanding its property businesses by building new shopping malls, residential projects and business process outsourcing (BPO) office space across the country.

Residential arm Vista Land & Lifescapes Inc., which announced Thursday an 18-percent year-on-year growth in its first-half profit to P2.6 billion, plans to expand its presence in the provinces.

About 42 percent of the revenue booked by Vista Land in the first semester came from provincial arm Communities Philippines, up from a share of 34 percent in the same period last year. This segment sells housing units worth below P3.5 million.

“Our provincial expansion is continuing strongly,” Vista Land president Manuel Paolo Villar said in a briefing, adding that it was possible that this segment would eventually account for the bulk of the firm’s earnings.

The profit growth in the first semester was fueled by a 20-percent rise in revenue to P9.7 billion for the period.

Sales remained strong, growing by 18 percent to P23.6 billion in the first semester. The company expects full-year sales to hit P46 billion. Demand from overseas Filipinos continued to account for the bulk of Vista Land’s business.

“Demand for housing is expected to remain robust, particularly in the affordable price segment which is dominated by our Camella brand.” “There is no oversupply in housing and our aggressive plans to expand countrywide remain unchanged,” he added.

The company’s cash position increased by 57 percent during the period to P11.83 billion, buoyed by a fresh credit facility from two banks.

“It is noteworthy that we have been able to borrow on much improved terms compared to a few years ago. During the second quarter, we raised P6 billion at an interest rate of 5.75 percent per year with a tenor of five years, compared to more than 7.27 percent last year. I believe this reflects the banking community’s increased confidence in Vista Land,” said company chief financial officer Ricardo Tan Jr.

“We now have residential housing developments in 31 provinces and 64 cities and municipalities around the country,” said Tan.

Follow Us

Follow us on Facebook Follow on Twitter Follow on Twitter

Recent Stories:

Complete stories on our Digital Edition newsstand for tablets, netbooks and mobile phones; 14-issue free trial. About to step out? Get breaking alerts on your mobile.phone. Text ON INQ BREAKING to 4467, for Globe, Smart and Sun subscribers in the Philippines.

Tags: Business , expansion , property development , Vista Land

Copyright © 2014, .
To subscribe to the Philippine Daily Inquirer newspaper in the Philippines, call +63 2 896-6000 for Metro Manila and Metro Cebu or email your subscription request here.
Factual errors? Contact the Philippine Daily Inquirer's day desk. Believe this article violates journalistic ethics? Contact the Inquirer's Reader's Advocate. Or write The Readers' Advocate:
c/o Philippine Daily Inquirer Chino Roces Avenue corner Yague and Mascardo Streets, Makati City, Metro Manila, Philippines Or fax nos. +63 2 8974793 to 94


  • Obama due in Seoul as North Korea nuclear test fears grow
  • Hold departure order out vs Corona, Singson
  • Malaysia to release MH370 report–PM
  • Man found dead in Quezon City, alleged victim of summary execution–report
  • Aquino to lead Air Force turnover rites
  • Sports

  • Michael Phelps loses to Lochte in comeback meet
  • Sharapova advances to Stuttgart quarterfinals
  • Galedo caps ride of redemption
  • Beermen, Express dispute second semis slot today
  • Lady Agilas upset Lady Bulldogs in four sets
  • Lifestyle

  • ‘Recovered’ Banksy works on display ahead of sale
  • Marinduque: Visiting the ‘palm of the ocean’
  • First at Vatican in 60 years
  • How Jing Monis Salon gave Krissy the pixie
  • Want to be a supermodel? Work on your inner beauty, says Joey Espino
  • Entertainment

  • Paul McCartney to play at Candlestick concert
  • Kristoffer Martin: from thug to gay teen
  • Has Ai Ai fallen deeply with ‘sireno?’
  • California court won’t review Jackson doctor case
  • Cris Villonco on play adapted from different medium
  • Business

  • PAL hailed for ban on shark fin cargo
  • BSP to change tint of P100 bill
  • Nielsen sees car buying boom in the Philippines
  • How author of best-seller exposed ‘one percent’ economic elite
  • Bangko Sentral readies new bank lending rules
  • Technology

  • Cloud strength helps Microsoft earnings top Street
  • Vatican announces hashtag for April 27 canonizations
  • Enrile in Masters of the Universe, Lord of the Rings?
  • Top Traits of Digital Marketers
  • No truth to viral no-visa ‘chronicles’
  • Opinion

  • Editorial Cartoon, April 25, 2014
  • No deal, Janet
  • Like making Al Capone a witness vs his gang
  • MERS-CoV and mothers
  • A graduation story
  • Global Nation

  • China welcomes PH apology
  • Only 4 Etihad passengers not accounted for
  • Abandoned in Malta,15 PH seamen return
  • Senator hopes PH will also get same vow
  • HK victims to get P115M; traders raised money
  • Marketplace