Vista Land still confident about housing, leasing businesses despite Covid-19

Vista Land & Lifescapes Inc. remains optimistic about its residential and leasing businesses as it gears up to launch more projects in the fourth quarter.

In a statement, Vista Land chairman Manuel Villar Jr. said he has seen the shift of customer preference to house and lot products in the provincial areas as evidenced by the increase in proportionate sales coming from the company’s housing products outside Mega Manila.

Vista Land only launched two residential projects worth around P2 billion in January to June.

Manuel Paolo Villar, president and CEO of Vista Land, said June sales were already at 70 percent of pre-coronavirus disease (Covid-19) level, with July and August sales tracking better than June.

For the leasing business, Villar said the group’s gross floor area has increased from 20% during the strict lockdown to 79%.

“The 21 percent that remain closed are those tenants that are still not allowed to operate as per government mandated restrictions,” he said.

Paolo said they were making the necessary adjustments to their business operations to better position the company once the economy fully recovers.

“This pandemic may have upended the real estate industry and the economy in general yet a lot of opportunities are still there especially in our sector,” he said.

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