Camella expanding to new areas
February 12, 2012 § Leave a comment
Dec 21, 2011
Camella, a subsidiary of Vista Land and Lifescapes Inc (Vista Land), is expanding throughout the Philippines. The Philippines has a healthy real estate market and this is supported by the growing overseas Filipino market. Camella is set to launch 14 new residential projects across the country in 2012.
The company currently has 33 projects in Cebu and 3 new projects will be added next year. Camella launched 4 new model townhouse units last week at The Courtyards in Pasadena. The Courtyards will house a total of 24 three-bedroom townhouse units priced at PHP4.6 million (US$105,321) to PHP7 million (US$160,272) .The house units at the Courtyards use neutral colours to promote laid-back living and among the project’s amenities is a swimming pool and community pavilion according to Sun Star.
The Camella brand has had a very successful year for Vista Land and Ricardo Tan Jr Chief financial officer for Vista Land expects sales to remain strong.
“We have had three consecutive quarters of record sales, with the bulk accounted for by our flagship Camella brand. We expect to see continued strong sales performance for our company in the fourth quarter as demand for house and lots, particularly in the mid- to low-end segment of the market, continues to be robust.” he said.
For the first nine months of the year, Vista Land’s real estate revenues reached PHP9.9 billion (US$226 million) while its net income stood at PHP2.61 billion (US$59.7 million).