Manny Villar expands retail portfolio
Vista Land & Lifescapes Inc. plans to build 60 more malls in the next three years as part of efforts to further expand its retail portfolio and diversify its revenue stream.
To date, the company, through the Starmalls Group, has 22 malls that cater to the mass market retail consumers in the country.
The group plans to reach new markets to further boost its profitability.
For next year, Vista Land is looking to book a 12 to 15 percent jump in sales and profit, largely to come from its core residential business. The commercial and leasing business is expected to grow by 22 to 25 percent.
Vista Land founder and chairman Manuel Villar Jr. wants Vista land to become one of the leading property developers by 2020.
The group is currently developing 24 master-planned communities across the country.
Also in the pipeline are six hotels which will rise in Boracay, Tagaytay, Balanga in Bataan, Cebu, and Las Pinas.