Vista Land & Lifescapes saw a double digit rise in profit in 2017 on the back of strong housing unit sales from OFWs. The real estate company’s net income breached P9.1 billion last year, up 12% from the same period in 2016.
Revenues rose 13 percent to P36 billion from P31.86 billion in 2016. A big chunk of this figure came from real estate revenues which reached P27.6 billion, a 10-percent increase from the same period in 2016.
Manuel Paolo Villar, Vista Land President and CEO, expressed optimism that the company
“We expect this year’s profit to also be stronger. It could be a double-digit growth,” Villar said.
“We remain optimistic for the industry, given the robust demand for our housing products, as well as our success in our leasing business propelled by the steady growth in the disposable income, OF [overseas Filipino] remittances, sound Philippine macroeconomic fundamentals and the government’s drive to accelerate economic activities and infrastructure developments outside Metro Manila, where we have a competitive advantage given that we have the widest geographic reach around the country,” he added.
