Vista Land and Lifescape, Inc. is the latest property company to enter into the development of big-ticket projects, following in the footsteps of Ayala Land, Eton, Megaworld and Filinvest.
Vista Land’s announcement of developing "Evia" this week ushers the company into the league of big community developers, larger than the image it has carved for itself when the Villar-led company first became known for its affordable market brand Camella and Palmera Homes in the 90s.
Evia is eyed as a "dynamic, self-contained 600-hectare city" carrying a mix of business, commercial, educational, and leisure communities, integrating "concepts in urban development, community planning, environmental and energy friendliness, innovations in hosting businesses, education, healthcare and leisure facilities, efficient transportation, and IT applications," said Benjamarie N. Serrano, Vista Land chief executive officer.
The focus now is for Vista Land to establish the commercial and community aspect of the property. The company initially budgeted a capital expenditure of P11 billion to establish its Lifestyle Center, the Riverwalk, church, and the University Town.
The 20-hectare Lifestyle Center is expected to start construction by the end of the year, according to Vista Land Corp. Communication officer Kit Trajano.
"The idea is to develop the first prime five hectares area," said Trajano.
The development of the community marks the maturity of the Evia from the spot developments that was initially started on the property.
The company’s three units, Brittany, Crown Asia and Camella already have projects in the area. Brittany’s Portofino, Crown Asia’s Ponticelli, and Camella’s Cerritos, now have almost 5,500 residential units on about 150 hectares or about 25 percent of the total property, according to Serrano.
Vista Land already has a plan for the property when it was first acquired, said Serrano in an earlier interview, though its development was driven by the demand.
The property has by now created the necessary household mass to unveil the grander plan of a community.
The decision to unveil Evia’s development was timed with the unveiling of masterplan for similar community for Vista Lakefront in Sucat, Vista Sta. Elena in Sta. Rosa, Laguna, and Vista Crosswinds in Tagaytay, all vast properties that the company developed slowly in the past 20 years, according to Serrano.
Evia’s announcement is the first major announcement for the community project, though Vista Lakefront was already soft-launched earlier, according to Trajano.
The launch of Evia and the other community is eyed to boost the image of Vista Land as a realty brand in relation to its units.
"Normally yung sikat kasi are the brand. So now we want to integrate and develop it. Kasi hindi masyado na-ha-highlight yung masterplan project because stronger yung brand... So we want to integrate now under Vista Land," said Serrano.
"This year we want to make Vista a stronger brand, although it’s a holding company" she added.
Since 2007, the company’s image has gone into a transformation from being that of the affordable housing developer listed with the Philippine Stock Exchange (PSE) to that of a multi-sectoral property developer with projects in all segments of the market.
Probably no small thanks to the ‘97 Asian crisis which nearly crushed the aggressive developer due to mounting debts, the group came back aggressively to cut what was then a P1.26 billion obligation at post-restructuring to P96 million in four years.
The company now also holds a total asset of P52.83 billion as of end-September, nearly double that of the 2006 asset of P29.74 billion asset.
Vista Land’s underleveraged status has allowed the company to tap the financial market with a $100 million, five-year unsecured bond issue, with an interest of 8.25 percent a year.
The company is also looking to borrow another P1.5 billion from local banks to bankroll capital spending for next year.
For its nine-month operation this year, the company reported a profit of P2.17 billion a 36 percent increase from the previous year’s P1.59 billion.
Revenues stood at P8.2 billion, up 14 percent from the previous year’s P7.17 billion, while reservation sales for the first nine months reached P15.36 billion.
In the nine-month report of the company in 2007, Vista Land reported a P2.72 billion profit and a revenue of P6.18 billion.
The company expects sales for the year to exceed the target of P20 billion.
For the fourth quarter, Vista Land, through its five units --- Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences --- will be launching six to eight more projects valued at P5 billion and equivalent to 2,000 units, expected to rise in areas like Ormoc and Cebu, among others.
Serrano said its affordable brand, Camella will continue to carry the company’s revenue with the demand boosted by the accommodative lending environment for end-users.
The company plans to spend P7.5 billion for its vertical projects next year, which would add to its portfolio worth P5.03 billion. Vista Land will also venture into the office and retail space leasing business through its existing master-planned communities.
As of end-September, Vista Land has a total landbank of 1,653 hectares, 326 of which are joint ventures.
For details on Evia and Vista Land projects, contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insights, December 07 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
Vista Land’s announcement of developing "Evia" this week ushers the company into the league of big community developers, larger than the image it has carved for itself when the Villar-led company first became known for its affordable market brand Camella and Palmera Homes in the 90s.
Evia is eyed as a "dynamic, self-contained 600-hectare city" carrying a mix of business, commercial, educational, and leisure communities, integrating "concepts in urban development, community planning, environmental and energy friendliness, innovations in hosting businesses, education, healthcare and leisure facilities, efficient transportation, and IT applications," said Benjamarie N. Serrano, Vista Land chief executive officer.
The focus now is for Vista Land to establish the commercial and community aspect of the property. The company initially budgeted a capital expenditure of P11 billion to establish its Lifestyle Center, the Riverwalk, church, and the University Town.
The 20-hectare Lifestyle Center is expected to start construction by the end of the year, according to Vista Land Corp. Communication officer Kit Trajano.
"The idea is to develop the first prime five hectares area," said Trajano.
The development of the community marks the maturity of the Evia from the spot developments that was initially started on the property.
The company’s three units, Brittany, Crown Asia and Camella already have projects in the area. Brittany’s Portofino, Crown Asia’s Ponticelli, and Camella’s Cerritos, now have almost 5,500 residential units on about 150 hectares or about 25 percent of the total property, according to Serrano.
Vista Land already has a plan for the property when it was first acquired, said Serrano in an earlier interview, though its development was driven by the demand.
The property has by now created the necessary household mass to unveil the grander plan of a community.
The decision to unveil Evia’s development was timed with the unveiling of masterplan for similar community for Vista Lakefront in Sucat, Vista Sta. Elena in Sta. Rosa, Laguna, and Vista Crosswinds in Tagaytay, all vast properties that the company developed slowly in the past 20 years, according to Serrano.
Evia’s announcement is the first major announcement for the community project, though Vista Lakefront was already soft-launched earlier, according to Trajano.
The launch of Evia and the other community is eyed to boost the image of Vista Land as a realty brand in relation to its units.
"Normally yung sikat kasi are the brand. So now we want to integrate and develop it. Kasi hindi masyado na-ha-highlight yung masterplan project because stronger yung brand... So we want to integrate now under Vista Land," said Serrano.
"This year we want to make Vista a stronger brand, although it’s a holding company" she added.
Since 2007, the company’s image has gone into a transformation from being that of the affordable housing developer listed with the Philippine Stock Exchange (PSE) to that of a multi-sectoral property developer with projects in all segments of the market.
Probably no small thanks to the ‘97 Asian crisis which nearly crushed the aggressive developer due to mounting debts, the group came back aggressively to cut what was then a P1.26 billion obligation at post-restructuring to P96 million in four years.
The company now also holds a total asset of P52.83 billion as of end-September, nearly double that of the 2006 asset of P29.74 billion asset.
Vista Land’s underleveraged status has allowed the company to tap the financial market with a $100 million, five-year unsecured bond issue, with an interest of 8.25 percent a year.
The company is also looking to borrow another P1.5 billion from local banks to bankroll capital spending for next year.
For its nine-month operation this year, the company reported a profit of P2.17 billion a 36 percent increase from the previous year’s P1.59 billion.
Revenues stood at P8.2 billion, up 14 percent from the previous year’s P7.17 billion, while reservation sales for the first nine months reached P15.36 billion.
In the nine-month report of the company in 2007, Vista Land reported a P2.72 billion profit and a revenue of P6.18 billion.
The company expects sales for the year to exceed the target of P20 billion.
For the fourth quarter, Vista Land, through its five units --- Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences --- will be launching six to eight more projects valued at P5 billion and equivalent to 2,000 units, expected to rise in areas like Ormoc and Cebu, among others.
Serrano said its affordable brand, Camella will continue to carry the company’s revenue with the demand boosted by the accommodative lending environment for end-users.
The company plans to spend P7.5 billion for its vertical projects next year, which would add to its portfolio worth P5.03 billion. Vista Land will also venture into the office and retail space leasing business through its existing master-planned communities.
As of end-September, Vista Land has a total landbank of 1,653 hectares, 326 of which are joint ventures.
For details on Evia and Vista Land projects, contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Business Insights, December 07 2010
For details on the Real Estate Service Act or RESA Law > http://www.ra9646.com/
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