MANILA, Philippines - Following the successful launch of 17 low-rise and mid-rise buildings, Vista Land & Lifescapes plans to roll out P7.5 billion worth of new vertical development projects next year.
Benjamarie N. Serrano, chief executive officer of Vista Land, said the launch of these new projects would bring the total value of its vertical units to P12.5 billion by 2011.
Serrano said the company aims to corner a bigger share of the vertical home segment next year by adding new low-rise and mid-rise residential condominiums and attract the growing number of buyers who prefer the features of this distinctive type of property development.
The 17 low-rise and mid-rise buildings, valued at P5.03 billion, are across Vista Land’s different projects.
Serrano said with Vista Land’s lineup of masterplanned communities already in place involving both horizontal and vertical projects, the company is primed to bring to market more five to 15-story developments within the next two to three years.
She disclosed that Vista Land will initially tap its existing properties, the biggest of which is Vista Lakefront, a sprawling 60-hectare masterplanned community in Sucat, Parañaque.
The group has six of seven planned low-rise and mid-rise developments already completed in the vertical, resort-themed Presidio enclave of Vista Lakefront. These Presidio developments are move-in ready, and include home concierge and condotel services, Serrano said.
She noted that Vista Land built some of the first vertical developments along the South Luzon Expressway (SLEX).
“The increasing number of vertical developments along SLEX is a testament to the outward movement of the market. We were part of this trend in the metro south, and it gives us directions for growth. That is, we will serve a new generation of end-user home buyers in different metropolitan and urban areas in the country,” Serrano said.
In addition to Presidio and Marfori Residences at Lakefront, Vista Land’s existing mid-rise residential projects include Pinecrest in New Manila, Madison Tower in Quezon City Pacific Residences in Taguig City, and Northpoint in Davao.