Vista Land sees better outlook due to strong remittances mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.
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.
Villar not keen on acquiring more land
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Metro Manila (CNN Philippines, May 10) Manny Villar-led Vista Land & Lifescapes, Inc. (VLL) is not in the mood for a land-buying spree this year, the company said Monday.
The VLL group, a listed property developer focused on residential subdivisions and construction of housing and condominium units, said in a disclosure to the Philippine Stock Exchange it will maintain its stance on minimal land acquisition thereby maximizing its existing land bank.
It also seeks to be conservative in terms of its leasing space expansion program.
In a filing dated April 23, the firm said its raw land inventory stood at 2,976 hectares as of end-December, a bulk of which are located in Mega Manila.
BusinessWorld
May 11, 2021 | 12:04 am
VISTA Land & Lifescapes, Inc. said it expects to report P2.1 billion in consolidated net income in the first quarter, declining by 12% from P2.44 billion a year ago due to higher interest expenses.
“Coming from 2020, our preliminary first-quarter headline numbers this year are quite encouraging,” Manuel Paolo A. Villar, president and chief executive officer of Vista Land, said in a statement on Monday.
The company also said total revenues for the quarter went down by 12% to around P8.7 billion from last year’s P9.93 billion, while its EBITDA (earnings before interest, taxes, depreciation, and amortization) amounted to P3.9 billion.
Vista Land optimistic with 2021 amid its recovery mb.com.ph - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from mb.com.ph Daily Mail and Mail on Sunday newspapers.