Vista Land and Lifescapes Inc., the country’s largest homebuilder, is keen on doing business ventures with other local companies amid plans to expand its retail and mall businesses.
“You can expect more partnerships in the next few years [for Vista Land],” former senator and current chairman of Vista Land Manny Villar said.
He said that the company has been approached by some big firms, and Vista Land has begun to “seriously” look at proposals.
“You are looking for business proposition with synergies with existing strengths,” Villar added.
However, Villar specified that the company’s plan to tap more joint ventures or partnerships is not urgent, because it still has existing guidelines to track.
“We know that in the real estate business, in malls and retailing business, people are talking but there’s no rush. We want to learn more about these areas. We don’t want to rush into closing deals,” he said.
“We have a decent program, not too aggressive, we are following our targets,” Villar added.
Meanwhile, the company is gearing up to launch more business process outsourcing (BPO) and mall projects next year.
“We hope to increase our investments in BPO and malls,” Villar said.
“Starting next year, we will be far more active,” he added. Villar said that Vista Land plans to generate more profit in the BPO and mall segments of its business.
In the first nine months of the year, Vista Land’s income went up by 17 percent to P3.8 billion amid significant sales growth. Also, the company’s real estate revenue increased by 22 percent to P14.8 billion from P12.2 billion.