Homebuilder Vista Land & Lifescapes Inc. said it will launch 30 residential projects this year with total sales value of P30 billion, as it expects residential sales to grow faster.
Vista Land president and chief executive Manuel Paolo Villar said in a news briefing the company budgeted P35 billion for 2017 capital expenditures this year, up from last year’s P30.9 billion.
He said of the P35 billion programmed spending, P26 billion would be allotted for residential development and P9 billion for its leasing business.
Villar said the company would also continue to ramp up its leasing business by building commercial developments to boost recurring income.
Villar said from 882,000 square meters as gross floor area of end 2016, the company aimed to have 1 million sqm of GFA by end 2017 and 1.3 million sqm of GFA by end 2018.
Vista Land identified about 100 areas or over 600 hectares of land for existing developments around the country with ready population catchment areas for potential commercial projects.