Vista Land & Lifescapes Inc. reported a net income of ₱9.1 billion for the first nine months of the current year, for a 10-percent increase compared to the same period last year,

Also, Vista Land launched new projects nationwide with a total value of ₱32.6 billion.

The company reported consolidated revenues of ₱29.1 billion, a 7-percent increase compared to the previous period. Real estate revenue accounted for ₱13.6 billion, a 12-percent increase, while rental income reached ₱12.4 billion.

“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. Our presence in 147 cities and municipalities across the country became apparent when we saw softening demand in Metro Manila due to the effect of the POGO ban,” Vista Land Chairman Manuel B. Villar said.

“We are now reaping the fruits of our various Vista Estate projects across the country, which is one of the factors in the sustained growth in our reservation sales which amounted to ₱58.4 billion as the end of period.  We remain optimistic with the industry especially in the provincial areas where demand continue to rise,” he added.

Also, Vista Land is reinforcing its position in both the residential and commercial sectors, with its residential business sustaining its growth with real estate revenues delivering 12-percent growth for the period. 

“We have also seen steady growth in our 1.6 million square meters gross floor area of commercial portfolio which includes 42 malls, 59 commercial centers and 7 office buildings as foot traffic returns to pre pandemic levels and we anticipate that we will see more in the coming Holiday season,” said President Manuel Paolo A. Villar. 

For the first nine months of 2024, the company continued to maintain a strong financial position, offering substantial flexibility to adapt to market fluctuations and take advantage of emerging opportunities in the real estate sector. It also  reported total assets of ₱376.8 billion and equity of ₱138.8 billion by the end of the period, yielding a net debt-to-equity ratio of 83 percent. This solid financial standing underscore the company’s ability to navigate challenges and capitalize on growth.

Capital expenditures totaled ₱21.2 billion, accounting for 71 percent of its 2024 budget. Of this amount, 70 percent was allocated to project construction, 28 percent to land development, and 2 percent to land acquisition, underscoring our commitment to driving growth and expansion.