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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. ....
In a disclosure to the Philippine Stock Exchange, the firm said consolidated total revenues was lower by 26 percent at P32.7 billion. Despite the impact of the COVID-19 pandemic on the Company’s business operations, Vista Land displayed resilience especially in its commercial business with rental revenues dropping only by 7 percent and its ability to quickly launch projects when presented with opportunities due to its land bank and presence across the country. “The past year truly challenged our ability to move forward despite the presence of a global health crisis. However, it even proved to be one of our most innovative years yet as we accelerated our digital transformation to reach and to better serve our clients,” said Vista Land Chairman Manuel B. Villar, Jr. ....
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.