Vista Land optimistic on growth prospects

MANILA, Philippines — Villar-owned homebuilder Vista Land & Lifescapes Inc. is optimistic for the rest of the year following an uptrend in dollar remittances from overseas Filipinos.

Vista Land chairman Manuel Villar Jr. said COVID-19 continues to negatively impact the company’s leasing and residential businesses.

Nevertheless, he anticipates a better year given strong remittances from overseas Filipinos and the improved vaccination rollout across the country.

“I founded Camella Homes more than 40 years ago to help out fellow Filipinos – with an OFW as our very first homebuyer – to buy a place they can call their own and I am just so glad that four decades after and even with an ongoing health crisis, here we are, still building the best homes for our kababayans,” Villar said.

Dollar remittances from overseas Filipinos posted a double-digit performance for the second straight month in May, growing by 13 percent from the same month last year, bringing year-to-date OF remittance growth to 6.6 percent, the Bangko Sentral ng Pilipinas reported yesterday.

The robust OF remittance performance this year bodes well for the company since approximately 55 to 60 percent of its sales are OF sales.

Vista Land, together with the property brands from the Villar Group recently held The ViCon – the Philippines’ first and biggest virtual property exposition that showcased the group’s complete real property offerings from various price points across the Philippines for those looking for dream homes, solid investments or premium commercial spaces.

”The ViCon is just one of the ways we navigate through these challenging times and we are looking at breaking more digital ground in the future,” said Manuel Paolo Villar, Vista Land President and CEO.

The ViCon was a huge success as it reached thousands of property seekers and investors alike.

Vista Land said it would do more virtual expositions like The ViCon to provide needed information and support to future homeowners and investment seekers.

Vista Land operates its residential and commercial property development business through six distinct business units. Camella Homes, Communities Philippines, Crown Asia, Brittany, and Vista Residences are focused on residential property development, while Vistamalls is involved in commercial property development.