Vista Land targets 1.5-M GFA in 2018
Vista Land marks 10TH listing anniversary: Vista Land & Lifescapes Inc. celebrated its 10th anniversary as a listed company in the Philippine Stock Exchange with the ceremonial ringing of the bell to start trading. In photo are (from left) Vista Land independent directors Ruben Fruto, Marilou Adea, chief finance officer Cynthia Javarez, managing director Camille Villar, Senator Cynthia Villar, president and CEO Manuel Paolo Villar, chairman Manuel Villar Jr., and PSE chairman Jose Pardo, president Ramon Monzon, director Vivian Yuchengco, chief operating officer Roel Refran, and director Alejandro Yu.
MANILA, Philippines - Vista Land & Lifescapes, Inc. expects its gross floor area to reach as much as 1.5 million square meters next year as it steadily expands its footprint nationwide, its top official said.
“I’m confident we can hit 1.5 million (square meters),” Vista Land chairman Manuel Villar Jr. said in a briefing following the company’s 10th listing anniversary celebration at the Philippine Stock Exchange yesterday.
Vista Land has condominiums, house and lots, malls, office space, themed residential developments and leisure components.
As of the first quarter, the company already had 952,000 sqm of GFA. It expects to close the year with one million sqm.
Reservation sales in the first quarter grew 12 percent to P16.1 billion, a trend which is expected to continue, said Manuel Paolo Villar, president and CEO of Vista Land.
The company has a gone a long way since it listed in 2007, the younger Villar said.
“In 2007, the company’s net income was just over P2 billion and this quadrupled in 2016,” he said.
Vista Land expects to expand in 200 cities and municipalities nationwide from only 44 in 2007.
“Vista Land’s 10 years of being a listed company was a decade of sustained growth and transformation. We have delivered our stated targets every year, significantly improved the profile of the company and transformed it into one of the country’s leading integrated property developers.
The company’s transformation was opportune as we have seen a continued significant growth in our leasing business as we continue to roll out our expansion programs to achieve our stated target of 1.3 million square meters in GFA by the end of 2018,” the younger Villar said.
“We are bullish for this year and our positive outlook is due to the continued expansion of our commercial assets in addition to our core housing business on the back of sound Philippine macroeconomic fundamentals,” he added.
Vista Land launched P12 billion worth of new projects in the first quarter of the year as it revised its total value of launched projects to P42 billion for 2017 from a previous target of P30 billion.
The company reported a net income of P2.3 billion in the first quarter, up 11 percent as consolidated revenues rose 14 percent to P9 billion.
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