Vista Land Aims to Become Integrated Mixed-Use Developer by 2020

Vista Land & Lifescapes Inc., listed property developer of the Villar family, expects to continue posting double-digit revenue and profit growth, as it aggressively expands in line with its goal to become an integrated mixed-use developer by 2020.

Vista Land Chairman Manuel B. Villar Jr. is confident its core residential business will hit 12 to 15-percent growth a year, while the leasing business through malls will be growing at a more rapid pace of 22 to 25 percent over the next three years.

“Our goal is to transform this housing developer into an integrated mixed-use developer,” he told reporters. “We will be a mixed-use developer like Ayala, SM, Megaworld. We hope to be in that league after a while, in three years.”

Villar said its residential business is further expanding to new cities and municipalities in the country, while malls and office buildings are also rapidly being rolled out, particularly in areas where the company has already developed healthy communities.

“Right now, we have 72 commercial assets consisting of 22 malls, seven office buildings and 50 community malls and other retail formats. Our malls alone will be increased to 60 in three years,” he bared.

Villar noted Vista Land continues to grow its business in anticipation of an expected reverse migration wherein millennials will eventually move out of Metro Manila to look for bigger but more affordable homes.

“We are now the biggest property developer outside Metro Manila, so it benefits us that government policy is moving towards the countryside,” he said.

Aside from malls, Vista Land is also looking to generate more recurring earnings from its hotel business which currently has a presence in Tagaytay and Boracay Island.

“We will be opening six new hotels in three years,” said Villar, adding that two hotels will be open in the first quarter of 2018.

He added these will be a combination of its own Hotel Mella brand and international hotel brands and will be located in Boracay, Tagaytay, Balanga in Bataan, Cebu and Vista Alabang in Daang Hari.