Vista Land profit jumps 83 percent to P5.8 billion in H2

MANILA, Philippines — Vista Land & Lifescapes Inc., the Villar-led property developer, reported a net income of P5.8 billion in the first half of the year, up 83 percent from the adjusted profit of P3.2 billion in 2022.

The company registered revenues of P18.3 billion, up eight percent. It launched a total of P24.3 billion worth of projects across the country. Of the total, real estate revenue amounted to P8 billion while rental income reached P7.9 billion.

“We have been launching more projects this year compared to last year. These launches will form part of our huge project pipeline,” said Vista Land chairman Manny Villar.

Reservation sales increased by 12 percent to P35.6 billion.

Gross profit reached P4.7 billion while EBITDA amounted to P10 billion.

Vista Land president and CEO Manuel Paolo Villar said both residential and leasing businesses remain strong.

“We have seen strong and sustained demand in our residential developments both horizontal and vertical segments especially from our overseas Filipino buyers, which comprise about 60 percent of our total sales. In terms of our leasing portfolio, of over 1.6 million square meters of gross floor area of commercial assets consisting of 45 malls, 56 commercial centers and seven office buildings, we are reaping the benefits from the increased foot traffic and return to normalcy,” Villar said.

He said the company has been maximizing prime land by launching more Vista estates across the country.

“These developments are mostly vertical and commercial projects which are geared towards the higher end of the income spectrum demand. Currently our land bank has a total of 3,085 hectares and is spread across the country,” he said.

At present, Vista Land operates its residential and commercial property development business through six business units – Camella Homes, Communities Philippines, Crown Asia, Brittany, and Vista Residences, which are all focused on residential property development.

Vistamalls is involved in commercial property development.