MANILA, Philippines — Higher revenues boosted core earnings of the Villar Group’s listed property developer, Vista Land & Lifescapes Inc., by 11 percent to P9.36 billion last year from P8.45 billion in 2023.
Revenue from real estate sales reached P16.63 billion in 2024, up by nine percent from P15.23 billion a year ago.
Vista Land said the increase was primarily due to the rise in the overall completion rate of sold inventories of some of its business units as well as the recognition of the significant financing component for the period.
Increase in rates during the year lifted the company’s rental income by four percent to P16.61 billion.
Parking, hotel, mall administrative and processing fees, meanwhile, declined by 20 percent year-on-year to P1.69 billion on the back of the significant decrease in forfeitures for the year.
Vista Land boasts the largest and most geographically diverse portfolio in the country, covering 147 cities and municipalities across 49 provinces.
Through six distinct business units, Vista Land operates its residential and commercial property development business.
Camella Homes, Communities Philippines, Crown Asia, Brittany and Vista Residences are focused on residential property development, while Vistamalls is involved in commercial property development.
Vista Land’s wholly owned subsidiary, VLL International Inc., recently secured a $150-million syndicated term loan facility to be used for financing, refinancing or reimbursing working capital and general corporate purposes of the group.
