Published May 24, 2021, 3:31 PM
Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, is allotting P27 billion for capital expenditures as it grows optimistic due to higher reservation sales.
In a disclosure to the Philippine Stock Exchange, the firm said this year’s capex is mainly for construction and land development.
Land acquisition budget remained muted as the company disclosed that it is looking at maximizing its existing land bank. It has 2,968 hectares of land as of end March 2021.
Vista Land reported that its net income declined 14 percent to P2.1 billion in the first quarter of 2021 from same period last year.