Vista Land earnings up 10% in 9 months

Vista Land & Lifescapes Inc., the listed property developer of the Villar Group, posted a double-digit jump in profit in the nine months ending September, driven by strong demand for its residential projects outside Metro Manila.

-  Richmond Mercurio

Vista Land delivered a net income of P9.1 billion from January to September, up 10 percent year-on-year, as revenues expanded by seven percent to P29.1 billion.

Real estate revenue accounted for P13.6 billion of the group's top line, a 12 percent increase year-on-year, while rental income reached P12.4 billion.

The company continued to expand its portfolio, with P32.6 billion worth of new projects launched nationwide during the nine-month period.

"Our performance so far reflects our commitment to our set strategy of asset maximization and optimization as we capitalized on the strong demand from residential projects specifically outside Metro Manila where we have the widest coverage," Vista Land chairman Manuel Villar Jr. said.

With Vista Land's presence in 147 cities and municipalities across the country, Villar said the group is now reaping the fruits of its various Vista Estate projects across the country.