Vista Land expects P5.6B from five Metro projects

VISTA Land and Lifescapes Inc., a leading housing developer started by former Sen. Manuel Villar Jr., is eyeing about P5.6 billion from the sale of housing units in five projects in Metro Manila that it launched last week, a company statement showed.

The projects, which are under the company’s flagship Camella brand, are Camella Verra Metro North in Valenzuela City, Camella Carson in Vista City at Daang Hari, Camella Alta Silang in Cavite, Camella Belize at The Islands in Dasmariñas (Cavite) and Camella Sierra Metro East in Antipolo.

Ric Pallesco, Camella division head, said the new projects would continue to shape the Metro landscape with master-planned Camella communities.

Vista Land said its Camella master-planned communities were self-contained projects, with lifestyle facilities such as clubhouses or function halls, swimming pools, play courts, playgrounds, parks, walkways and jogging or biking paths.

Vista Land president Manuel Paolo Villar said that, given the bright outlook for the housing sector, Vista Land “will continue to be a dominant force” in the market.

“We are by far the leader in the house-and-lot segment and have a strong competitive advantage given our track record of delivering quality homes for more than 35 years across the country,” he said.

The company is continuing to develop its land bank, which ended last year at more than 2,100 hectares across the Philippines.

Vista Land ended 2014 with a net income of P5.7 billion, up 13 percent. Its revenues from real estate sales hit a record P22.2 billion last year, 11-percent higher than the previous year’s.

As an indicator of future revenue growth, reservation sales last year went up 12 percent to P51.71 billion.

Apart from Camella, which serves the affordable housing market, Vista Land operates in other market segments under the brands Brittany, Crown Asia and Vista Residences.