(Source: Manila Bulletin | December 26, 2017)
Vista Land & Lifescapes, one of the leading integrated property developers and the largest homebuilder in the Philippines, remains optimistic and is expecting to continue to register double-digit revenue and profit growth in the next three years.
In an interview, Vista Land Founder and Chairman Manuel B. Villar Jr. said the firm’s consolidated business will be posting 12 to 15 percent growth in its topline and bottomline a year coming from a double digit growth from its core residential business while its rapidly expanding leasing business will be growing at a more rapid pace of 22 percent.
“We will have become a major integrated mixed-used player by 2020. You will see a different Vista Land going forward,” said Villar adding that “our goal is to transform this housing developer into an integrated mixed use developer.”
He explained that, Vista Land continues to grow its business in anticipation of an expected reverse migration wherein millenials will eventually move out of Metro Manila to look for bigger but more affordable homes.
“We are now the biggest property developer outside Metro Manila, so it benefits us that government policy is moving towards the countryside,” he said noting that these buyers will be more discriminating and will require better services and that is why Vista Land is putting up malls and retail outlets.
While its residential business continues to expand to new cities and municipalities in the country, Vista Land’s malls and office buildings are also rapidly being rolled out—particularly in areas where the company has already developed healthy communities.
“Right now, we have 72 commercial assets consisting of 22 malls, 7 office buildings and 50 community malls and other retail format. Our malls alone will be increased to 60 in three years,” said Villar.
He explained that their malls not only generate recurring income but, more importantly, are there to serve the needs of the residents of Vista Land’s residential projects.
Aside from malls, Vista Land is also looking to generate more recurring earnings from its hotel business which currently has a presence in Tagaytay (Crosswinds) and Boracay where the firm acquired a small resort.
“We will be opening six new hotels in three years. These will be a combination of our own Hotel Mella brand and international hotel brands and will be located in Boracay, Tagaytay, Balanga in Bataan, Cebu and Vista Alabang in Daang Hari,” said Villar adding that two hotels will be open in the first quarter of 2018.
He said most of the hotels will have around 150 rooms although the one they are building in Costa Vista Boracay will be bigger at around 300 rooms. The project is located at the upscale portion of Boracay, between Shangri-La and Movenpick resorts.
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