MANILA - Vista Land on Thursday said its net income reached P6 billion for the first 9 months of the year, up 9 percent compared to the same period last year.
Its real estate revenue reached P14.5 billion, down 20 percent due to slower construction activities due to lockdowns but its leasing income rose 5 percent to P6.2 billion, the company said in a disclosure to the stock exchange.
“We remain optimistic with the industry especially with the sustained increase in the OF (Overseas Filipino) remittances which are currently at about 6 percent at the end of August,” Vista Land chairman Manuel Villar said.
“With the holiday season coming up and the relaxation of the mobility restrictions across the country, we are excited to welcome more customers to our commercial centers,” he added.
Total capital expenditure for the period was P18.4 billion used mainly for construction and land development. As of end of September, the company said it has 2,937 hectares of land.
Vista Land operates Camella Homes and Vista Malls, among others.