Vista Land Increases Capex To P15B

May 5, 2012 § Leave a comment

 

 
By JAMES A. LOYOLA
April 3, 2012, 5:21pm
MANILA, Philippines — Vista Land & Lifescapes has allocated a capital expenditure of P15 billion for the year, 45 percent higher than 2011’s capex budget.In a statement, Vista Land said it is also targeting reservation revenues of P28 billion to P30 billion for 2012.The firm’s flagship brand Camella continues to expand in emerging markets in the countryside and is unveiling two new projects in Ilocos Sur and Puerto Princesa, Palawan.

Camella president Jerylle Luz C. Quismundo said Camella has established strong presence in 28 provinces and 56 cities and municipalities, and the company’s bullish expansion shows no signs of slowing down.

Catering to the mid-market segment, Camella has built more than 250,000 homes in the past 36 years, unmatched in the horizontal housing segment. It maintains a strong presence in Metro Manila as well as in 28 provinces and 56 cities and municipalities.

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.

It is launching Camella Candon, an 11-hectare master-planned development project. It is emerging as the growth center in Ilocos Sur.

Candon City’s strategic location along McArthur National Highway easily connects it to other nearby growth centers, like Vigan City, San Fernando City in La Union, and Baguio City.

The city’s lovely beaches make it a tourist magnet and will soon witness a boom in shopping malls, banking and lending institutions, recreational and tourism facilities, and health establishments.

Down south, Camella is developing Camella Puerto Princesa, aimed at overseas Filipino workers (OFWs) and their families, as well as retirees.

Camella Puerto Princesa is an eight-hectare project in Barangay 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 to 179 sqm. 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.

www.camella.com.ph

http://mb.com.ph/node/356208/vi

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