Vista Land to build P2.2 B project in Boracay

MANILA, Philippines – Vista Land & Landscapes Inc. of the Villar family has unveiled a P2.2 billion mixed-use project in the popular Boracay Island resort.

The project, Costa Vista Boracay, will have six residential towers, private villas, hotel, a pavilion with viewing deck, pool, convention center, and a commercial quarter.

The prime development expands the Villar Group’s presence in Boracay after acquiring the 54-room Boracay Sands Hotel last year.

“Costa Vista Boracay is another strategic step in expanding our presence in Boracay Island, bringing Vista Residences’ expertise in one of the most popular world beach destinations,” said Vista Land chairman Manuel Villar Jr.

The number of tourist arrivals in the area is growing on the back of the country’s favorable macroeconomic conditions, Villar said.  

“This will be attractive for both end-users and investors who are looking for either a home or a source of rental income,” he added.

Vista Residences president and managing director Elizabeth Kalaw said the project would have a direct access to the Punta Bunga beach.

The mid-rise towers offer 1,000 units of studio to two-bedroom units ranging from 24 to 48.6 square meters at a price ranging from P3.6 million to P7.5 million.

Development will take eight years with the first two towers targeted for completion in three and half years, officials said.

There will be six to eight storey towers that will have a commanding view of Boracay since they will be built on hills 30 meters above sea level.

Kalaw said the project would also include a convention center with a capacity of 800 to 1,000 as well as a hotel with villas and 200 rooms, riding on the growth potential of the MICE (meetings, incentives, conference and exhibition) industry in the island.

Nova Noval, Vista Residences sales, marketing and residential leasing head, said unit owners could lease their property or simply use it when they visit Boracay.

 Either way, it would be a good investment given the potential of the property prices to appreciate.

Unit owners will also have the option to let the company manage the leasing of their units so they do not have to worry about maintenance and marketing.

Costa Vista Boracay will sit on Punta Bunga beach at the island’s northwestern tip, and will rise in between Shangrila Boracay Spa Resort and Movenpick.