Integrated property developer Vista Land and Lifescapes Inc. is upscaling its massive project portfolio with the launch of 44 masterplanned townships in cities where it already has fully-developed residential subdivisions.
“The land value in these areas are already so high that it no longer makes sense to develop horizontal housing so we will be building high rise condominiums, office towers, hotels and commercial projects,” said Vista Land Founder and Chairman Manuel B. Villar, Jr. in an informal talk with media.
He stressed though that the company will continue horizontal projects in the provinces where land prices are lower since the sites are not yet as urbanized.
“We are now launching our townships under Vista Estates which will consist of 1,438 hectares, or an average of 33 hectare per location, out of our total portfolio of 3,300 hectares,” said Villar.
He explained that, these prime lots have long been set aside from a portion of every project site for future commercial development as these are the portions fronting highways or main thoroughfares.
According to Villar, they had initially planned to launch Vista Estates in 2020 but had to postpone this because of the pandemic.
Vista Land expects to spend about P1.36 billion per hectare for its townships for a total cost of almost P2 trillion although there is no definite timeline yet for these.
Villar said the ratio between residential and leasing spaces in each township will be determined under their respective masterplans and will depend mainly on market demand in each location.
“Vista Land is investing into these masterplanned developments, making good on its promise to valued homebuyers and investors to create superior product offerings and, more importantly, deliver excellent long-term investment growth,” he noted.
In 2015, Vista Land had started its shift and had been building more than just residential villages. It started to develop communities that offer whatever residents need to experience as extraordinary a life as possible.
Thus, it is launching Vista Estates––a collection of cities-within-cities infused with themes and offerings inspired by the best-loved places in the world and designed to re-create global living and lifestyles.
“In everything we do, from our malls to our retail concepts, is an elevated experience, world class and of global standards which is what every Filipino deserves,” said Villar.
He added that, “I have seen and experienced what the other countries are providing and I wanted to bring these experiences here in the country, and we did– through our retail concepts like Coffee Project, AllHome, AllDay to name a few and of course now to our core business through Vista Estate.”
“I’m optimistic coming in this 2022 and with the optimism you’ll see a shift, a totally different Vista Land,” Villar said.
With the widest geographical reach across the country, and an equally diverse portfolio, Vista Land’s extensive land bank is situated largely in areas close to major business hubs with 57 percent located within Mega Manila.
By building on the fringes, Vista Estates is re-shaping the landscape across the country with cutting-edge megalopolises. As part of the conglomerate with the widest geographic reach, Vista Estates follows suit.
“The current 44 estates sprawl across our islands with thirteen in Mega Manila, thirteen in Luzon, eight in the Visayas, and ten in Mindanao. Currently, even more Vista Estates are on the verge of rising,” Villar said.
With its Vista Estates, Vista Land turns its focus on the creation of fully- integrated urban developments that bring together themed residences––both vertical and horizontal, retail, offices, universities, healthcare and other institutions, and leisure––all at global standard levels.
Vista Estates promises that every development will offer five core elements: Business Parks and IT Zones, Institutional Complexes, Commercial and Retail Districts, Leisure and Recreational Hubs, and Residential Communities.
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The article was originally published in Manila Bulletin and written by James A. Loyola.
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