Vista Land eyes emerging growth areas
May 5, 2012 § Leave a comment
Tuesday, 03 April 2012 19:50 Lenie Lectura / Reporter .
LISTED Vista Land & Lifescapes Inc. continues to establish a strong presence in emerging markets in the countryside despite stiff competition from other real estate players.
The Villar-led firm’s flagship brand Camella is present in 28 provinces and 56 cities and municipalities. Company President Jerylle Luz C. Quismundo said there is no stopping the company from slowing down.
Camella, which is Vista Land’s subsidiary catering to the mid-market segment, has built more than 250,000 homes in the past 36 years, unmatched in the horizontal housing segment. It likewise maintains a strong presence in Metro Manila as well as in 28 provinces and 56 cities and municipalities, it said in a statement yesterday.
Camella is expanding in Ilocos Sur and Palawan. It plans to put up an 11-hectare Camella Candon project on McArthur National Highway. This development is expected to expand further in the suburbs of Candon.
Down south, the company is developing the Camella Puerto Princesa. Its target market includes overseas Filipino workers (OFWs), their families, as well as retirees.
Camella Puerto Princesa is an eight-hectare project in brgy. Bancao, which is being developed into house-and-lot packages that will carry three of the developer’s housing designs. Floor areas will range from 40 square meters (sq.m)to 179 sq.m. The house-and-lot packages will be priced at between P1 million and P4.7 million.
Camella Puerto Princesa will be developed into a Caribbean-theme gated community with amenities such as clubhouse, basketball court playground, a commercial area and shuttled service.
Princesa is the 56th city with a Vista Land development. All in all, the company has projects in 22 provinces and 52 cities as at end 2011.
Quismundo said the expansion of Camella into these geographical locations, particularly in Puerto Princesa, is anchored on the strength of its OFW market. “The majority of our homebuyers are OFWs who have witnessed and experienced living in world-class communities in [other] countries,” Quismundo said. “Most of them wish to bring the same quality and standard in their hometowns and their very own homes. And since a good number of our OFWs hail from the provinces, there is strong preference for house and lot in their hometown or province of origin which they intend to live-in with their families.”
“As the runaway leader in horizontal housing,” Quismundo added, “we intend to further cement our hold in this market with the country-wide expansion.”
For this year, Vista Land has allocated a capital expenditure of PI5 billion or 45-percent higher than last year’s budget. It is also targeting reservation revenues of P28 billion to P30 billion this year.
The expansion outside the major urban centers gives Camella a significant role in bringing progress to, and in developing the economies, of the communities where it has undertaken property projects.