MANILA, Philippines?Home builder Vista Land and Lifescapes Inc. has unveiled a P45-billion capital spending plan for the next three years to fast-track the development of four large-scale property projects.

Seeking to sustain the robust growth seen in recent years, Vista Land plans to unlock more values from strategically located properties in Mega Manila.

?We are in the midst of an aggressive expansion program that will entail significant capital expenditures over the next three years and beyond,? Vista Land chief executive officer Benjamarie Serrano said in a statement.

In 2010, the company?s capital outlays were placed at more than P10 billion.

The three-year capital expenditure plan implied an average annual budget of P15 billion from 2011 to 2013.

Aside from ongoing subdivision projects throughout the country, Serrano said Vista Land would accelerate four master-planned developments??Evia? in the Alabang-Las Piñas area; ?Lakefront? in Sucat, Parañaque; ?Sta. Elena? in Sta. Rosa, Laguna; and Swiss-inspired leisure project ?Crosswinds? in Tagaytay.?

With an area spanning more than 600 hectares, Vista Land is developing distinctive Italian-inspired master-planned communities in Evia. Three residential estates have so far been completed in this project: ?Portofino? under the company?s upscale brand, Brittany; ?Ponticelli? by the mid-range brand Crown Asia, and ?Cerritos? catering to the affordable market segment.

Evia?s development will include a retail and commercial gateway with designated office blocks and business process outsourcing (BPO) centers, a university town, a church and hospital. At present, commercial hubs including food strips, gasoline station and service outlets are sprouting in the area.

The company has leased out a large parcel of its land to Fernbrook Gardens, a popular Southern Mega Manila wedding venue.

The 60-hectare Lakefront property in Sucat boasts a commercial hub, called The Wharf, which houses restaurants, convenience store, spa and beauty salon, a bank and some offices. The Lakefront development includes San Francisco-inspired subdivisions La Posada and Marina Heights, and the mid-rise buildings Presidio and Marfori.

Vista Land recently signed a joint-venture deal with Hospitality International Inc. to offer serviced apartments to vacationers.

The company?s aggressive property development program will be financed through a combination of internal cash flow and debt.

?Our firm?s balance sheet is solid and we have sufficient room to lever up,? said Vista Land chief finance officer Paolo Villar.

Vista Land last year debuted in the overseas bond market with a $100-million bond issue in the fourth quarter. It recently disclosed securing a three-year P500-million credit facility from Security Bank.

The company?s stock has risen in the last few days, benefiting from investors hunting for bargains. It recently obtained favorable reviews from foreign stock brokerage firms CLSA, UBS, Credit Suisse and a leading local house, Philippine Equity Partners.