Manila, Philippines – Vista Land & Lifescapes, Inc., a leading property developer and the country’s largest homebuilder, achieved a net income of ₱9.1 billion for the nine months ending September 30, 2024, marking a 10% year-on-year growth. The company launched new projects nationwide worth ₱32.6 billion.
Consolidated revenues rose 7% to ₱29.1 billion, with real estate revenue increasing 12% to ₱13.6 billion and rental income reaching ₱12.4 billion. Gross profit hit ₱9.0 billion, and EBITDA stood at ₱17.0 billion, with an improved gross margin of 66% due to operational efficiency. These figures underscore the company’s resilience and adaptability in a dynamic real estate market.
Chairman Manuel B. Villar Jr. attributed the growth to the company’s strategic focus on provincial areas, where demand remains strong despite a softening market in Metro Manila following the POGO ban. He highlighted the success of Vista Estate projects nationwide, which contributed to reservation sales of ₱58.4 billion. The provincial market’s sustained demand reflects the growing preference for integrated developments that provide accessibility, convenience, and lifestyle amenities.
President Manuel Paolo A. Villar emphasized the continued growth of their residential and commercial portfolios. Residential revenues grew 12%, driven by new project launches and strong buyer interest in value-for-money housing options. Meanwhile, their 1.6 million square meter commercial portfolio, including 42 malls and 59 commercial centers, saw increased foot traffic nearing pre-pandemic levels. This resurgence in commercial activity highlights the recovery of consumer confidence and economic stability across the country.
The company also reported a successful refinancing of its $350 million debt maturing in 2024, eliminating near-term refinancing risks. This move ensures financial stability and strengthens the company’s capacity to focus on strategic expansion initiatives. “Our strong balance sheet and proactive debt management demonstrate our commitment to long-term growth and operational excellence,” President Villar noted.
As of September 2024, Vista Land maintained a robust financial position, with total assets of ₱376.8 billion, equity of ₱138.8 billion, and a net debt-to-equity ratio of 83%. Capital expenditures reached ₱21.2 billion, with 70% allocated to project construction, reflecting the company’s commitment to delivering quality developments on schedule. The allocation of resources to ongoing and future projects underscores Vista Land’s focus on meeting the evolving needs of its clients.
The company declared a cash dividend of ₱0.1120 per share, payable on December 12, 2024, and announced plans to resume its 20% dividend payout policy in 2025. This decision aligns with its dedication to providing consistent returns to shareholders while balancing reinvestment in growth opportunities.
With a vast portfolio covering 147 cities and municipalities in 49 provinces, and a landbank of 2,969 hectares near key infrastructure, Vista Land is positioned for continued growth. The company confirmed no exposure to POGO operations, ensuring stability despite the government ban. This strategic advantage has allowed Vista Land to remain resilient in the face of regulatory changes affecting the real estate sector.
The Vista Estate projects, which focus on creating master-planned communities, have emerged as a significant growth driver for the company. These developments integrate residential, commercial, and recreational components, offering residents a holistic and convenient lifestyle. By prioritizing such innovative projects, Vista Land continues to differentiate itself in a competitive market.
Looking ahead, Vista Land aims to leverage its extensive landbank and strategic locations to further expand its footprint. The company’s proximity to key infrastructure projects, including new highways and transportation hubs, ensures that its developments remain accessible and attractive to potential buyers and investors. “We are committed to building sustainable communities that enhance the lives of Filipinos,” said President Villar.
Vista Land’s unwavering focus on sustainability is also evident in its adoption of eco-friendly practices across its projects. From energy-efficient designs to green spaces within developments, the company is taking steps to minimize its environmental impact while providing modern and comfortable living spaces. These initiatives align with global trends in sustainable real estate development, positioning Vista Land as a forward-thinking industry leader.
As the real estate market continues to evolve, Vista Land’s ability to adapt and innovate will remain a key factor in its success. The company’s strong financial performance, strategic vision, and commitment to sustainability ensure its continued relevance and growth in the Philippine property sector. By focusing on integrated developments and maintaining a robust financial position, Vista Land is set to achieve greater milestones in the years to come.
