Vista Land to triple mall portfolio by 2020

ABS-CBN News

Posted at Feb 09 2018 04:23 PM

MANILA – Vista Land on Friday said it planed to triple the number of its malls to 60 from 22 by 2020.

A “significant portion” of the company’s P50 billion capital expenditure this year was allotted to the construction of malls, Vista Land told the stock exchange.

"We remain optimistic for the industry, given the strong demand for our commercial spaces and housing products, propelled by the stable growth in the disposable income, OF (overseas Filipino) remittances and sound Philippine macroeconomic fundamentals,” Vista Land chairman Manuel Villar, Jr.

Vista Land President & CEO Manuel Paolo Villar said he expected consolidated net income to grow by 10 to 15 percent this year due to a growth in leasable space.