Vista Land & Lifescapes Inc. which started five Camella Homes projects this year, has announced it will launch five more projects in the next few months, a top company official said.
“The five projects are worth P5.6 billion. In another three months, we will be launching another five, more or less the same size. It will total about P12 billion to P14 billion for this division alone,” Vista Land Chairman Manuel Villar Jr. told reporters on Friday night.
He said the additional five Camella Homes, which will produce a total of 2,800 house and lot units at minimum price of P2 million, will be in Laguna, Rizal, and Caloocan where the real estate business has been booming.
The five on-going projects include Camella Verra Metro North in Valenzuela City; Camella Carson in Vista City at Daang Hari; Camella Alta Silang in Cavite; Camella Belize at The Islands in Dasmariñas, Cavite; and Camella Sierra Metro East in Antipolo.
Camella Homes, widely known as low to middle-income housing, is seen in 34 provinces and 76 cities and municipalities nationwide. Camella Homes has the widest geographical reach in the housing business.
Villar said the new units will be available in the market in the next five to six months.
“We are very bullish this 2015. Last year, our housing units are immediately sold out. These projects [to come]are big scale,” he said.
Ric Pallesco, Camella Division Head, said the new projects “will continue to shape the Metro landscape” with Camella’s master-planned communities for comfortable living with such facilities as clubhouses, function halls, swimming pools, play courts, playgrounds, parks, walkways, and jogging or biking paths.
The company will continue to be “a dominant force” in the housing business given the bright prospects for the Philippine real estate sector, said Vista Land President and Chief Executive Officer Manuel Paolo Villar.
“We are by far the leader in the house-and-lot segment and have a strong competitive advantage given our track record of delivering quality homes for more than 35 years,” President Villar said.
He said that the company would see a “significant increase” in its capital expenditures this year from the P21.1 billion spent in 2014 as the company expands to new areas in Luzon, Visayas and Mindanao.
Vista Land has announced that it is set to raise $100 million from loans this year to fund the company’s plans this year, mostly for its commercial office and retail projects.
The company saw a 13-percent increase in its net income last year to P5.7 billion from P5.06 billion the previous year, as its revenues went up 11 percent to P22.2 billion from P20.02 billion.
Revenue contributors were Camella Homes with 28 percent share; Crown Asia, 11 percent; Vista Residences, 9 percent; and 47 percent for its regional developer Communities Philippines.
Some 44 projects were launched last year valued at P27 billion, 40 of which are in low and affordable, two in middle income segment and another two in condominiums.
Incorporated in 2007, Vista Land primarily engages in real estate business, mostly in low and middle cost segments, and has been recently working to diversify into the hotel business.