Vista Land & Lifescapes Inc., one of the country’s leading integrated developers, said it is spending P18 billion to build 10 new malls over the next two years.
Vista Land chairman Manuel Villar said the aggressive expansion would increase the company’s total leasable space to 1.5 million square meters from the current 910,000 sqm.
Under the plan, the property firm will build seven Vista Malls with an average size of 30,000 sqm. These are located in Iloilo City, Davao City, Dasmariñas in Cavite, two in Bacoor and two in Las Piñas.
Three smaller commercial development under the brand Vista Places, with an average size of 15,000 sqm, will also be constructed in Malolos, Bulacan; Kawit, Cavite; and Cagayan de Oro City.
“All our malls will have an upscale feel but are not intimidating. They will cater to everybody. We came in at a time when consumers have higher spending power and the market standard for malls is leveling up. Thus our malls are designed to be much nicer than what others have right now,” said Villar.