| VISTA Land & Lifescapes Inc. is investing over P10 billion in various residential developments in key locations in Metro Manila. Vista Land is the newly incorporated holding firm of the MB Villar Group for its property business.
In a statement Tuesday, president and chief executive Jing Serrano said the projects include the 30-story Mosaic condominium in Legazpi Village; the triple-tower Laureano Di Trevi condominium in Pasong Tamo; the 42-story Avant at The Fort; the five-tower Marfori Residences in Sucat, Muntinlupa; and the triple tower mid-rise Pacific Residences in Taguig City.
Britanny Corp. will handle the Mosaic, Avant and Marfori Residences, while C&P Homes will handle the Trevi and Pacific Residences. Both companies are subsidiaries of Vista Land.
The Mosaic project marks the beginning of a P5 billion, two-year investment of Brittany in the Makati Central Business District. Located in Legazpi Village, behind the Asian Institute of Management, Mosaic has the view of both Greenbelt and Legazpi Park, as well as the Manila South side.
Avant, on the other hand, signals the start of a P5-billion investment in the next three years for various developments within Bonifacio Global City in Taguig City.
Vista Land is planning to list its shares by way of introduction at the Philippine Stock Exchange on June 25.
Listing by introduction involves the listing and trading of a company’s shares at the bourse but not necessarily selling the stocks to the public.
Eventually, though, the company intends to sell its shares to both domestic and foreign investors.
“Proceeds of the public offering would be used by the company to rapidly expand its operations and strengthen its market position,” the company said in a statement.
Vista Land combines the expertise of Brittany Corp., C&P Homes, Crown Asia and Communities Philippines, making it one of the largest homebuilders in the country that offers horizontal residential products across all income brackets.
The company has an extensive land bank available for future development—1434 hectares of raw land, of which approximately 1185 hectares were acquired directly and about 249 hectares under joint venture agreements with land owners.
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