In a statement, its chairman Manuel Villar Jr. emphasized the company's commitment to strengthening its position in the horizontal residential market, particularly in the provinces.
More importantly, the company said it remains unaffected by the recent ban on Philippine Offshore Gaming Operators (POGOs), having zero exposure in this sector for both its residential and office properties.
Vista Land’s project pipeline, coupled with its nationwide presence, underpins its optimistic outlook for the year, Villar said.
The firm’s consolidated revenues rose by 8% to P19.9 billion, driven by strong performance across its residential and commercial segments.
With P22.2 billion worth of projects launched, Vista Land said its prospects for the remainder of 2024 appear robust, supported by strategic asset maximization and geographic expansion.
This positions the company favorably as it continues to navigate market challenges and capitalize on emerging opportunities, it explained.
The firm said its financial condition is strong, with total assets of P352.7 billion and a net debt-to-equity ratio of 85%. The successful issuance of a $350-million bond, set to refinance maturing debt, further underscores investor confidence, it added.
As Vista Land advances into the second half of 2024, it plans to launch more upscale and vertical residential projects integrated with commercial developments, leveraging its 2,969-hectare landbank to maximize value and sustain growth, the firm said.
