The company also revealed a sales record of Php 22.2 billion for the past year.
Local real estate company Vista Land & Lifescapes, Inc. recently announced their 2014 net income of Php 5.7 billion, a 13% growth from the previous year and the highest in the company’s history. Also a record for the company is their 2014 sales number of Php 22.2 billion. At the end of last year, the company’s total consolidated assets reached Php 106.8 billion from 2013’s Php 84.5 billion.
“We are very pleased to report that 2014 is another banner year for the Company. Our strategy is paying off and given the strength of the property market, particularly in the housing sector,” Vista Land's president and CEO Manuel Paolo A. Villar said.
“We will continue to focus on bringing our housing brands to families around the country,” he added, referring to Vista Land’s five brands: Brittany, Crown Asia, Camella Homes, Communities Philippines, and Vista Residences.
Villar also noted the company’s plans for catering to the ‘rising middle class’ in the Philippines. "We are already seeing affordability increasing not just in Metro Manila but also in the provincial areas. Thus, we continue to add to our existing footprint of 34 provinces, 76 cities and municipalities around the country.”
“We are also ramping up our commercial developments within or near our existing residential developments to build up our recurring revenue base while enhancing the value of our residential projects,” he revealed.
Vista Land chairman Manuel B. Villar, Jr. is bullish about the company’s performance this year, saying, “The market demand for housing, particularly in the lower end of the market, continues to be robust and we don’t see any risk of a slowdown in that segment.”