Villar widens Vista Land’s footprint
Vista Land & Lifescapes Inc. of Manuel Villar is looking at further spreading its wings with plans to enter new geographical markets to boost its profitability.
While it is present in 97 cities and municipalities across the country, Vista Land is eyeing at least three more new areas.
The company launched P17 billion worth of residential projects in the nine months to September this year, mostly in the low and affordable segment outside Mega Manila.
It plans to build its first condominium project in the island of Boracay which will be called Costa Vista Boracay.
Vista Land reported an 11 percent increase in net income in the first nine months of the year to P6.4 billion, driven by a 67 percent jump in rental earnings due to the increase in its leasable space.
“We remain bullish with the expansion plans of our newly acquired subsidiary Starmalls Inc. which currently now has 17 commercial assets in its portfolio and that is on top of what we had prior to the acquisition,” Villar said.