Vista Land sees better outlook due to strong remittances

Published July 27, 2021, 3:50 PM

by James A. Loyola

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, remains optimistic that its 2021 performance will end up better than 2020 despite the recent developments amid the pandemic.

“While COVID-19 continues to impact our performance, both on our leasing and residential businesses, we still anticipate a better year with indicators such as strong overseas Filipinos (OF) remittances and the ramping up of the vaccination roll out across the country,” said Vista Land Chairman Manuel B. Villar, Jr.

Vista Land Chairman Manuel B. Villar, Jr.

He noted that, “I founded Camella Homes more than 40 years ago to help out fellow Filipinos – with an OFW as our very first homebuyer – to buy a place they can call their own and I am just so glad that four decades after and even with an ongoing health crisis, here we are, still building the best homes for our kababayans.”

The Bangko Sentral ng Pilipinas recently reported that the remittances from OFs recorded yet again another double-digit performance for the second straight month in May, growing by 13.3 percent from the same month last year, bringing year-to-date OF remittance growth to 6.6 percent.

The robust OF remittance performance this year bodes well for the Company since approximately 55 percent to 60 percent of its sales are OF sales.

Vista Land, together with the property brands from the Villar Group (Group) recently held its digital endeavor, The ViCon – the Philippines’ first and biggest virtual property exposition that showcased the Group’s complete real property offerings from various price points across the Philippines, for those looking for dream homes, solid investments, or premium commercial spaces.

“The ViCon is just one of the ways we navigate through these challenging times and we are looking at breaking more digital ground in the future,” said Vista Land President & CEO Manuel Paolo A. Villar.

He said Villar Group’s The ViCon was a huge success as it reached thousands of property seekers and investors alike.

From finding the ideal site to property acquisition, to saving and financing, to decorating and interior designing, The ViCon offered a comprehensive selection of seminars and tips for homebuyers. Vista Land envisions doing more virtual expositions like The ViCon to provide needed information and support to future homeowners and investment seekers.