Vista Land sees another banner year with Q1 earnings up 13%
Villar-led property firm Vista Land & Lifescapes Inc. posted a net income of P2.6 billion in the first quarter, up 13 percent on steady growth of its residential and leasing operations.
Consolidated revenues increased by 12 percent to P10.1 billion. Leasing revenue rose 14 percent to P1.6 billion.
Reservation sales went up 12 percent as demand for the company’s housing products has been stable.
The company rolled out P12 billion worth of new projects during the period.
Vista Land president and CEO Manuel Paolo Villar said the company is on track to achieve its target of 1.4 million square meters in gross floor area by the end of the year.
As of end-March, Vista Land had an established presence in 141 cities and municipalities across 47 provinces. It intends to focus on the development of Communicities, – integrated urban developments combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components.