Vista Residences, the vertical development arm of listed home builder Vista Land & Lifescapes, is planning to boost its presence in the provinces with plans to expand in Cebu, Iloilo and Tagaytay.
In Tagaytay, the company will be developing a P1.5 billion project, while for the provinces of Cebu and Iloilo, the firm said that they are still in the master-planning stage.
Vista Residence President Maribeth Tolentino said that the company has acquired a one-hectare property in Tagaytay where the firm will build three 5-storey residential buildings.
Tolentino said the firm is planning to invest P800 million in construction cost for the project which will have a total of 400 units with a market value of about P1.5 billion.
“If the project is successful, there are adjacent lots with a total of six hectares that are also being offered to us that can be allotted for expansion,” she added.
In Iloilo, Vista Land has a 300 hectare master planned community which will also be the location of all of the firms’ brands such as Crown Asia, Camella and Brittany.
“There is space allotted for Vista Residences [in Iloilo]and we’d be happy with two hectares for medium rise buildings,” said Tolentino, specifying that one hectare can accommodate three buildings already.
In Cebu, Tolentino said that the developer is already eyeing a lot of possible sites that are being offered to them for high-rise development.
So far, Vista Land has developed only residential subdivisions in Cebu, including Talisay, Calamban, Carcar and Mactan. MADELAINE B. MIRAFLOR