Tuesday, 9 March 2010

Vista Land sets P10 billion for 30 new projects

By BERNIE CAHILES-MAGKILAT
Manila Bulletin
http://mb.com.ph/articles/246823/vista-land-sets-p10-billion-30-new-projects

Anticipating stronger medium-term growth in the country’s real estate sector, publicly listed holding company Vista Land and Lifescapes has earmarked P10-billion investments this year for 30 new projects, according to chief financial officer Manuel Paolo A. Villar.

In a statement, Villar said the new developments will bring the Vista Land group’s portfolio of projects to a total of 157, distributed among 19 provinces and 46 cities and municipalities.

The bulk of capital expenditures will be allocated for the construction and development of projects, with a minor portion for land acquisition. Most of the new projects are intended for the affordable to mid-range housing market, where Vista Land has a strong brand and marketing presence.

“One of our competitive strengths, unique to the group, is the breadth of our presence nationwide. We are building homes and communities in more provinces all over the country, compared to other real estate developers,” the CFO of the Vista, which is owned by presidential bet Manuel Villar.

“Another unique strength of Vista Land is our Camella brand, the best known brand in the affordable housing segment, where most of the demand and sales volume are generated,” Villar said.

Camella, a landmark brand in the industry with an unmatched 33-year track record, is a pioneer in building affordable housing.

He noted that the Vista Land group has built the largest number of homes among all local developers, a total of more than 200,000. Other companies in the group are Brittany, which builds high-end communities; Crown Asia, focusing on the mid-range category; Communities Philippines, which develops projects in the provinces; and Vista Residences, the newly launched company and brand name which consolidates all of the group’s residential condominium projects.

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