Property developer Vista Land & Lifescapes Inc. said over the weekend core net income increased 10 percent in 2022 to P7.7 billion from a year ago as it remains aggressive with project launches.
Vista Land said in a statement it launched P40 billion worth of projects last year, or four times higher than the projects launched in 2021.Vista Land chairman Manuel Villar Jr. said the group lined up several new projects this year as demand continued to be strong both from domestic and overseas Filipinos.
“We have also announced our shift to the upscale, vertical and commercial projects in our existing developments through our Vista Estates in various areas around the country. To date, we have launched 11 Vista Estate projects in 2022, but this is just the beginning. We will be announcing more Vista Estate projects in the coming months. Our aim is to maximize our existing land to its best use,” Vista Land said.Vista Land said consolidated revenues reached P29.
The company said it sustained improvements in gross margin by 571 basis points to 57 percent on price increases implemented and cost efficiencies. Vista Land president Paolo Villar said the group’s leasing business delivered positive results in 2022, boosted by return to “normalcy” and the so-called revenge spending.
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