Vista Land nets P6.7 billion in Jan.–Sept., up 12%

Property developer Vista Land & Lifescapes Inc. said Tuesday it posted a net income of P6.7 billion in January to September, up 12% year-on-year.

In a disclosure to the Philippine Stock Exchange, Vista Land said it launched 12 projects with an estimated value of about P21.8 billion during the period.

These include a CrownAsia project, five Camella projects, and six Vista Estates projects: Aspen in San Jose del Monte, Bulacan; Vidarte in Antipolo, Rizal; Stanza in Tanza, Cavite; Praverde in Dasmarinas, Cavite; Allegria in General Trias, Cavite; and North Commons in Caloocan City.

The project value to date now doubles the full year 2021 level, the company said.

“We are pleased with our performance specifically on our project launches this year,” said chairman Manuel Villar, Jr.

Vista Land also reported a consolidated revenue of P22.1 billion in the first nine months of 2022.

The company said its total assets stood at P312.4 billion as of end of September 2022.

Capital expenditure during the period reached P19 billion brought mainly by construction and land development.

The existing landbank of the company remains at 2,926.3 hectares, Vista Land said. — Ted Cordero/BM, GMA Integrated News