Vista Land eyes P10 billion from projects

MANILA, Philippines - Villar-led Vista Land & Lifescapes Inc. expects to raise around P10 billion in sales from new upscale residential condominium projects The Hudson and Alpine Village.

The two projects would be under the group’s luxury brand Britanny, said Ricardo B. Tan Jr., Vista Land chief financial officer.

Located in Bonifacio Global City, The Hudson will offer a total of 141 one bedroom-to-three bedroom units targeted for completion in five years.

The 28-story The Hudson will be the group’s second project in the booming Bonifacio Global City following the successful launch of Avant.

Tan said Alpine Village woulf rise within the 100-hectare Crosswinds community in Tagaytay. Designed after the Swiss towns at the foot of the Alps, Alpine Village will comprise six to seven mid-rise buildings.

The first building will make available a total of 143 units, priced at P125,000 per square meter. The project is expected to be completed by 2015. Unit prices range from P4 million to P15 million each.

Vista Land is increasing its portfolio of residential condominium buildings to take advantage of the healthy demand for this type of products.

Camella, the group’s real estate brand catering to the low-income segment of the market, is building 878 Espana CCH (Camella Condo Homes) in the university belt in Manila and CCH CDO.

Among its completed projects include five medium- and high-rise vertical projects -– Laureano di Trevi, CCH Taguig, CCH Pasig and CCH Taft and CCH Katipunan).

Projects under Crown Asia Residences, targeted towards the middle-high-end segment of the market, include The Symphony Tower in the Quezon City South Triangle, Will Tower along Eugene Lopez Drive (Quezon City), Crown Tower University Belt in Manila, The Currency in the Ortigas Business Center, Salcedo Square in Makati, Brescia Residence in Fairview (Quezon City) , Pine Crest in New Manila, Presidio at Lakefront Sucat, Madison Place in Cubao and Crown Aisa Residences Wack Wack in Mandaluyong City.

Vista Residences builds and manages all the condominium projects of Vista Land.

Vista Land has set a capital spending of P15.2 billion this year, including vertical projects.

The company reported a 25 percent growth in net income in the first half to P2.17 billion from P1.74 billion the same period in 2011. Revenues rose 22 percent to P8.08 billion.