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Business

Villar, Antonio families bullish on property business next year

Richmond Mercurio - The Philippine Star

MANILA, Philippines — The Antonio and Villar families are bullish on the prospects of their real estate businesses next year following a challenging 2020.

In separate statements yesterday, real estate developers Vista Land & Lifescapes Inc. and Century Properties Group Inc. (CPG) have expressed optimism heading into 2021.

Vista Land said it is optimistic for both its residential and leasing businesses next year.

“While COVID-19 continues to impact our performance, both on our leasing and residential businesses, we also have seen a number of positive signs of recovery since the reopening of the economy last June,” Vista Land chairman Manuel Villar Jr.

“The upward trend of our reservation sales were sustained and are now at 70 percent of pre-COVID level. This prompted the company to restart launching residential projects in our existing land banks,” he said.

For its leasing business, Villar said the company’s operational gross floor area has risen to about 95 percent following the easing of government-imposed restrictions.

He said the firm is now experiencing over 50 percent of pre-COVID level foot traffic and system-wide occupancy rate is steady at 89 percent.

“The continued price increase for house and lot products in the provincial areas as shared by Banko Sentral ng Pilipinas bodes well for the company,” Vista Land president and CEO Manuel Paolo Villar said.

Vista Land is the biggest homebuilder with the widest geographic presence, generating over 50 percent of its real estate revenues outside the Mega Manila area.

The company will continue to re-align its strategies to meet the changing consumer needs and be of better service to its customers.

Meanwhile, CPG, the listed property developer of the Antonio family, said it would continue to re-align its strategies to meet the changing consumer needs and be of better service to its customers.

“As we prepare for 2021, Century Properties is ready to take on the year with optimism,” it said.

“Recognizing that there will be economic challenges, CPG will remain strong by diversifying its portfolio for further expansion, while reducing its carbon footprint and creating buildings with the future of the planet in mind,” the company said.

Despite the challenges this year, CPG said it pushed through with its business expansion plans, growing its commercial leasing business and affordable housing portfolio, while also maintaining the healthy sales of its in-city vertical developments.

CPG turned over 1,200 units this year, with another 1,600 units slated to be turned over from February to April next year.

The company said construction is ongoing at Commonwealth by Century in Quezon City, Batulao Artscapes in Nasugbu, Batangas, and Azure North in San Fernando, Pampanga.

“They say the only constant thing in life is change, and to respond to the changing times, Century Properties will remain agile – looking for ways on how to do things better in the service of its clients and stakeholders. Beyond building passion which the company is known for, it will strive to have a lasting impact as it creates a new generation real estate,” it said.

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