Vista Land & Lifescapes Inc. said its core profit last year grew 10 percent to P7.7 billion from P7 billion.
Revenues reached P29.8 billion, up 71.26 percent from P17.4 billion.
Rental income amounted to P13.7 billion while real estate revenues stood at P12.8 billion.
Vista Land launched P40 billion of projects last year, four times higher than the projects launched in 2021.
“We remain bullish with the industry for this year especially with the level of our project lunches last year. We have a pipeline of projects going into 2023 and we are slated to launch more projects this year as buyer’s confidence is back. We have seen sustained growth in Overseas Filipinos (OF) remittance which is projected to grow by 4 percent this year,” said Manuel Villar Jr., Vista Land chairman.
“Demand from OF remained strong which resulted in the 12 percent growth in our reservation sales of P65.5 billion in 2022. We have also announced our shift to the upscale, vertical and commercial projects in our existing developments through our Vista Estates in various areas around the country. To date, we have launched 11 Vista Estate projects in 2022 but this is just the beginning, we will be announcing more Vista Estate projects in the coming months,” he added.
