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Vista Land earns ₱11.6 B in 2019

By James A. Loyola

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, posted a 10 percent growth in net income to ₱11.6 billion last year from ₱10.5 billion in 2018.

Vista Land NEW Logo with Tagline FINAL

In a disclosure to the Philippine Stock Exchange, the firm said earnings rose because of the strong performance of its commercial assets and sustained contribution from its residential business.

Consolidated revenues grew 7 percent to ₱44.4 billion from ₱41.5 billion last year as leasing income posted an increase of 20 percent to ₱8.5 billion while revenues from real estate increased by 3 percent to ₱32.8 billion.

“We are pleased with the Company’s 2019 performance as both our leasing and residential businesses provided steady growth,” said Vista Land Chairman Manuel B. Villar Jr.

He noted that, “Revenue growth from our existing investment properties of about 1.5 million square meters continues to be strong.”

“In terms of our residential business, we have recorded reservations sales of ₱78.5 billion as well as launched projects mostly outside Metro Manila with an estimated value of ₱38.5 billion for 2019, composed of affordable housing and CoHo projects, our version of Mid-rise buildings,” Villar added.

Vista Land President and CEO of Manuel Paolo Villar said. “The start of 2020 has been challenging with the occurrence of a series of unforeseeable events, especially the COVID-19 pandemic.”

He disclosed that, “Vista Land will refocus on optimizing its existing portfolio of investment properties as well as utilize its current land bank of about 3,000 hectares.”

“We saw that demand for affordable housing persists and homebuyers, most of which are end users, remain committed to completing payments,” he noted.

Villar added that, “Vista Land is also taking advantage of its geographic reach. We have a presence in 147 cities and municipalities across the country and generate over 50 percent of our revenue outside Metro Manila.”

Vista Land intends to focus on the development of Communicities, an integrated urban developments combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components.


Source: Manila Bulletin (https://business.mb.com.ph/2020/05/28/vista-land-earns-%e2%82%b111-6-b-in-2019/)

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