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Vista Land & Lifescapes Inc., said profit for the first half of the year reached P3.8 billion, up 9 percent from last year’s P3.49 billion.
Real estate revenues reached P11.1 billion, down 13 percent from P12.76 billion, due to the slower construction activities in the provincial areas where various level of lockdown were implemented during the period.
Leasing income hit P3.6 billion, up 6 percent from P3.4 billion.
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Vista Land said its newly opened commercial centers, where the majority of the tenants are essential (i.e. home store and supermarket), contributed to the topline growth.
Demand from overseas Filipinos remained strong, which contributed to the 14 percent growth in our reservation sales of P29.4 billion for the period.
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