Vista Land & Lifescapes, Inc., the Philippines’ largest homebuilder controlled by the Villar Group, saw a 10 percent growth in net income of P9.1 billion for the nine months ending September 30, lifted by sales generated from the launch of new projects nationwide worth P32.6 billion.
Consolidated revenue for the period rose 7 percent to 29.1 billion. Real estate revenue increased 12 percent to P13.6 billion, while rental income reached P12.4 billion. Vista Land’s gross profit totaled P9.0 billion.Chairman Manuel B. Villar Jr. attributed the growth to Vista Land’s strategy of asset maximization, capitalizing on strong residential demand, especially in provincial areas. He noted that while Metro Manila saw softening demand due to the ban of Philippine overseas gaming operations, Vista Land’s presence in 147 cities across the country helped sustain growth, with reservation sales reaching ₱58.4 billion by the end of the period.
The company’s residential and commercial sectors continue to show steady growth, with real estate revenues rising by 12 percent and its commercial portfolio—comprising 42 malls, 59 commercial centers, and 7 office buildings—growing as foot traffic returns to pre-pandemic levels.
Vista Land also strengthened its financial position, refinancing USD350 million in debt and successfully managing its liability risks. As of September 30, the company had total assets of P376.8 billion, equity of P138.8 billion, and a net debt-to-equity ratio of 83 percent.
Capital expenditures totaled P21.2 billion, or 71 percent of the 2024 budget, with the majority allocated to project construction and land development.
