Vista Land & Lifescapes, Inc., the country’s largest homebuilder and leading integrated property developers, remains optimistic that its businesses will continue to grow in 2017, its 10th year listing anniversary.
In a briefing at the Philippine Stock Exchange Plaza Friday, Vista Land President and CEO Manuel Paolo Villar said the company had seen strong growth in the first quarter of the year to thrive until end-2017.
Net income and reservation sales were projected to increase double-digit, while expecting to hit expansion targets, Villar added.
The executive cited the company’s reservation sales, which rose 12 percent to P16.1 billion in the first quarter 2017.
“We’ll be double-digit this year on earnings and hopefully we can accelerate next year,” Villar said.
“This year (we) will get very fast growth in the commercial side and we will have high single-digit growth on the residential business. And then probably next year, we will do double-digit on the residential business,” he noted.
He mentioned that from Vista Land’s listing in 2007 until 2016, compound average growth rate of net income was pegged at 17 percent from P2.1 billion to P8.1 billion.
“Vista Land’s 10 years of being a listed company was a decade of sustained growth and transformation,” Villar stressed.
“We have delivered our stated targets every year, significantly improved the profile of the company and transformed it into one of the country’s leading integrated property developers,” he added.
For Vista Land Chairman Manuel Villar Jr., targets set by the company this year will easily be met.
The listed firm eyes total gross floor area (GFA) at end-2017 to reach one million square meters and at 1.3 million sqm in 2018.
Currently, Vista Land has 952,000 sqm GFA in total.
The company’s chair added that total GFA for 2017 and 2018 might reach 1.1 million sqm and 1.5 million sqm, respectively.
The former senator said Vista Land targets to expand in 200 cities and municipalities across the country next year, from the current 117 locations.