Vista’s Manny Villar is positive his company is on track to reach their 2014 targets.
Vista Hub at Vista City
Local real estate developer Vista Land & Lifescapes, Inc. recently posted a Php 2.8 billion net income for the first semester of 2014 compared to Php 2.5 billion for the same period last year. According to Vista, they achieved revenue of Php 11 billion for the first quarter of 2014, a growth of 14% from 2013’s Php 9.7 billion.
“Vista Land continues to remain firmly on a solid growth path. Demand for housing continued (sic) to be robust, particularly in the affordable price segment which is dominated by our Camella brand. There is no oversupply in housing and our plans to expand countrywide remain unchanged,” Vista Land chairman Manny Villar said.
Sales, according to the developer, also remain on the strong path with a 10% upsurge to Php 25.9 billion. They also announced a total of Php 97.8 billion in consolidated assets as of June of this year.
“We now have residential housing developments in 34 provinces and 74 cities and municipalities around the country. Our continued expansion in the provincial areas has solidified Vista Land’s dominant position in housing in the Philippines,” Villar noted.
Vista Land is the holding company of five brands: Brittany, Crown Asia, Camella Homes, Communities Philippines, and Vista Residences. The developer’s latest venture is Vista City, a masterplanned commercial business district (CBD) spanning Muntinlupa, Las Piñas, Cavite, and Laguna.