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Revenge spending boosts Vista Land income in 2022 | VG Cabuag

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Vista Land and Lifescapes Inc., the property development arm of billionaire Manuel B. Villar Jr., said it is bullish on the real estate sector after it recorded a core net income of P7.7 billion, some 10 percent higher than the previous year. Know more:

Vista Land and Lifescapes Inc., the property development arm of billionaire Manuel B. Villar Jr., said it is bullish on the real estate sector after it recorded a core net income of P7.7 billion, some 10 percent higher than the previous year’s P6.96 billion.

The chairman of Vista Land said demand from overseas Filipinos, one of the company’s top buyers over the years, remained strong which resulted in the 12 percent growth in its reservation sales which reached P65.5 billion in 2022. Vista Land said it sustained improvements in its gross margin by 571 basis points to 57 percent due to price increases implemented and cost efficiencies realized.

 

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