Vista Land & Lifescapes Inc. reported an 11 percent rise in core income to ₱9.35 billion in 2024, up from ₱8.45 billion the previous year, driven by broad-based strength across its business units. The real estate developer said this figure excludes one-off insurance claim proceeds booked in 2023, reflecting a more stable operational performance.
Total revenue grew 5 percent year-on-year to ₱36.96 billion from ₱35.16 billion. Real estate sales posted a robust 9 percent increase to ₱16.63 billion, which the company attributed to higher project completion rates and recognition of significant financing components. Rental income also edged up 4 percent to ₱16.61 billion on the back of increased leasing rates across its portfolio.
However, revenue from other sources—including parking, hotel operations, and processing fees—dropped 20 percent to ₱1.68 billion, due to a sharp decline in forfeitures. Interest income rose 12 percent to ₱2.03 billion, supported by a 46 percent surge in returns from investments measured at amortized cost, which offset a 54 percent fall in interest income from installment receivables as more buyers shifted to mortgage financing.
Vista Land said it continued to implement cost-efficiency measures and finalized land development costs for completed projects, supporting its bottom line amid a dynamic operating environment.
The performance underscores Vista Land’s resilience and operational adaptability, reinforcing its position as one of the Philippines’ largest integrated property developers.
