Villar-led property firm Vista Land and Lifescapes Inc. said it expects to generate P1.78 billion in sales from its upcoming tower development for university students, the Vista Taft 1334.
The company is set to break ground in November next year for Vista Taft 1334, which will be completed in December 2019. The tower will rise along Taft Avenue across the University of the Philippines, UP Philippine General Hospital, and near De La Salle University (DLSU).
Vista Taft 1334 is the fifth residential tower of Vista Land through Vista Residences that provides housing for university students.
The other projects are Crown Tower University Belt and 878 España in Manila’s university belt, Vista Taft along Taft Avenue, and Vista 309 Katipunan beside DLSU.
“The greatest benefit of living near your school is that it gives you time to focus more on your studies. Since transportation is not a problem, it gives you an ample amount of rest time and the right amount of energy to keep up with your school activities without having to worry about curfew or the availability of vehicles for you to get home,” Elizabeth Kalaw, Vista Residences division head, said in a statement.
The tower will have a total of 759 units, averaging 21 square meters per unit, and priced at P125,000. Vista Residences’ university tower series caters to students and provides accessible location near schools, amenities and facilities conducive to learning, and secure Internet connection, among others.
Vista Land grew its net income by 14 percent to P2.8 billion in the first six months of the year from P2.5 billion a year ago. It said it is on track with its full year targets of “double digit growth” on net income and revenues.
Incorporated in 2007, Vista Land is into real estate business mostly in low and middle cost housing segments, and has been recently working to diversify into the hotel business.