Vista Land to launch P34B more projects


    Vista Land & Lifescapes Inc. is set to launch P34 billion worth of  residential projects for the rest of the year out of the P50 billion developments it scheduled for unveiling in 2019.

    Manuel Paolo Villar,  Vista Land president, said the P50- billion projects are mostly affordable houses, and are outside Metro Manila.

    Villar said the company launched residential projects with an estimated value of P16 billion in the first half.

    For the first half of the year, Vista Land posted profit of P5.8 billion, up 11 percent from P5.2 billion last year. Consolidated revenues hit P23.4 billion, up 11 percent from P21.1 billion a year ago.

    Leasing revenues for the period increased by 17 percent to P3.9 billion from P3.3 billion in the prior year period, driven by the increase in our leasable spaces from malls.

    “Our leasable spaces are mostly retail malls which limits our POGO (Phiippine offshore gaming operators) exposure and any crackdown to those POGO will not impact to our overall financial performance,” said Villar.”