PROPERTY developer Vista Land & Lifescapes Inc. is aiming to branch out from its core horizontal housing business by 2020 with a diversified portfolio in condominiums, hotels, offices, and malls.
“Going forward, 2020, Vista Land will be completely different. It’s not a mere housing firm anymore, but a complete real estate company with hotels, malls, BPOs [business process outsourcing offices], high rise condominiums, and of course we’ll continue our bread and butter. In terms of percentage in revenues, the horizontal housing will continue to go down,” Vista Land Chairman Manuel B. Villar Jr. told reporters in a briefing last week.
“The country has leveled up. You just look around, and you see all these developments… Our intention is to be a complete real estate company,” he added.
Villar said the company will “catch up” with the leasing business through malls and offices to generate more recurring income, which will bring stable profit to the major property firms.
The company already has 17 malls to date, 13 of which are Starmalls and four are under the Vista Malls brand.
The company also has four existing office buildings and another under construction in Bonifacio Global City, which is expected to be completed in December.
For hotels, Vista Land is planning to put up four more hotels in Boracay, Tagaytay, Bataan, and Daanghari. The hotels will be under the firm’s Mella Hotels brand, which is a three to four star hotel for the middle class, opening about 150 to 200 rooms each.
The company is currently constructing two Mella Hotels, one in Las Pinas, which is expected to cost P500 million to P600 million, and another one in Boracay, where the firm invested P1 billion.
“We are not yet significant in hotels, so we want to go into that. We are already heavy in condos and BPO [offices]but we want to be a major player in all of this. We try to grow fast so that the ratio of leasing income compared to the housing income will be comparable to the leaders of the industry,” Villar said.
The Coffee Project
Outside of Vista Land, the Villar Group through its retail vehicle All Value Holdings Inc. is also going strong in the robust coffee shop space.
Villar, who is also the chairman of All Value, said it is expanding its homegrown coffee shop brand The Coffee Project, investing more than P300 million for the first 22 to 23 stores by end-2017.
He said the group is opening six more coffee shops this year, raising the number of The Coffee Project stores to 13 by end-2016. The firm will open an additional nine to 10 outlets next year, which will bring total store count to 22 to 23. These stores will all be located within Mega Manila.
The All Value chairman said all of the stores up to next year will be company owned, noting that an outlet of The Coffee Project costs between P10 million and P15 million.
Aside from The Coffee Project, All Value holds the Villar Group’s retail businesses including home decor and furniture stores (All Home), supermarkets (All Day Supermarkets), and convenience stores (All Day convenience stores).
The Villar Group of companies has interests in real estate (Vista Land), retail (All Value) and memorial park development (Golden Haven Memorial Park Inc.).