Villar-led Vista Land Lifescapes, Inc. boosted its January-to-June net income by 25% to P2.19 billion while Century Properties Group, Inc., recorded a 91% surge to P944 million. Anchor Land Holdings, Inc., on the other hand, saw its first-half net income rise by 32% to P460.52 million.
The country’s real estate market is having its best run in the last 20 years, real estate services firm CB Richard Ellis Philippines, Inc. (CBRE Philippines) had earlier said, noting that strong remittances from overseas Filipino workers, low inflation rate, and low lending rates have come together to fuel optimism in the sector.
“I believe demand for housing will remain strong for the next few years…� Manuel Paolo B. Villar, Vista Land president and chief executive, said in a disclosure yesterday.
The mass housing firm saw revenues grow by 22% to P8.1 billion in the first semester from year-ago levels.
Six-month sales grew by 47% to P20.0 billion, putting the firm on-track to meet its P40-billion sales growth by year-end, Vista Land claimed.
In the period, Vista Land launched 15 subdivisions nationwide, all valued at a rough total of P12 billion, said Ricardo B. Tan, Jr., Vista Land chief financial officer.
The company has bared plans to develop eight residential condominiums worth P10 billion and 32 residential subdivisions worth P32 billion this year.
Century Properties Group, Inc., meanwhile, saw its first-half net income surge on the back of the strong sales performance of its property developments, a separate disclosure showed.
The company’s six-month revenues more than doubled to P4.9 billion versus P2.1 billion, year-on-year, with its property portfolio consisting of 20% luxury offerings, 44% middle-income, and 36% in the “affordable� segment.
“Century [Properties] continues to execute its business plan of developing products that are relevant for today’s market place. We remain steadfast in our attempt to diversify our product portfolio,� said Jose Carlo R. Antonio, Century Properties chief financial officer.
Niche developer Anchor Land Holdings, Inc., for its part, saw its first-half net income rise on the back of an 84% surge in revenues to P2.24 billion, a separate disclosure showed yesterday.
“The increase [in revenues] is due to the continued construction and new units sold in the company’s residential condominium projects…� said Stephen Lee, Anchor Land chairman.
Anchor Land plans to roll out its biggest residential project to date: the P11-billion, four-tower Monarch Parksuites in Parañaque City.
Anchor Land shares slid by 0.60% to P19.88 apiece yesterday while those of Vista Land were unchanged at P4.44. Shares of Century Properties rose by 4.29% to P1.46. — F. J. G. de la Fuente