Vista Land and Lifescapes Inc., the property development company led by former politician Manuel B. Villar Jr., said its leasing and residential businesses allowed its income last year to grow by 10 percent to P11.6 billion, from P10.5 billion in 2018.
Consolidated revenues went up by 7 percent to P44.4 billion, from P41.5 billion in the previous year, the company said.
Leasing income posted an increase of 20 percent to P8.5 billion, while revenues from real estate grew 3 percent to 32.8 billion.
“Revenue growth from our existing investment properties of about 1.5 million square meters continues to be strong. In terms of our residential business, we have recorded reservations sales of P78.5 billion as well as launched projects mostly outside Metro Manila with an estimated value of P38.5 billion for 2019, composed of affordable housing and CoHo projects, our version of mid-rise buildings,” said Villar, the company’s chairman.
Manuel Paolo Villar, president and CEO of Vista Land, said the company will refocus on utilizing its existing portfolio of investment properties as well as utilize its current land bank of about 3,000 hectares.