Vista Land optimistic as overseas remittances on an uptrend

The robust OF remittance performance this year bodes well for the company since approximately 55% to 60% of its sales are OF sales.

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Vista Land Camella Homes
Camella Homes

Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder is still optimistic for the rest of the year following the recent developments amid the pandemic.

“While COVID-19 continues to impact our performance, both on our leasing and residential businesses, we still anticipate a better year with indicators such as strong overseas Filipinos (OF) remittances and the ramping up of the vaccination roll out across the country,” said Manuel B. Villar, Jr., Vista Land Chairman.

“I founded Camella Homes more than 40 years ago to help out fellow Filipinos – with an OFW as our very first homebuyer – to buy a place they can call their own and I am just so glad that four decades after and even with an ongoing health crisis, here we are, still building the best homes for our kababayans,” Villar added.

The Bangko Sentral ng Pilipinas recently reported that the remittances from OFs recorded yet again another double-digit performance for the second straight month in May, growing by 13.3% from the same month last year, bringing year-to-date OF remittance growth to 6.6%.

The robust OF remittance performance this year bodes well for the company since approximately 55% to 60% of its sales are OFW sales.

In addition, Vista Land, together with the property brands from the Villar Group (Group) recently held its digital endeavor, The ViCon – the Philippines’ first and biggest virtual property exposition that showcased the Group’s complete real property offerings from various price points across the Philippines, for those looking for dream homes, solid investments, or premium commercial spaces.

”The ViCon is just one of the ways we navigate through these challenging times and we are looking at breaking more digital ground in the future,” said Manuel Paolo A. Villar, Vista Land President & CEO.

Villar Group’s The ViCon was a huge success as it reached thousands of property seekers and investors alike. From finding the ideal site to property acquisition, to saving and financing, to decorating and interior designing, The ViCon offered a comprehensive selection of seminars and tips for homebuyers.

Vista Land envisions doing more virtual expositions like The ViCon to provide needed information and support to future homeowners and investment seekers. About Vista Land & Lifescapes, Inc.

Vista Land operates its residential and commercial property development business through six distinct business units. Camella Homes, Communities Philippines, Crown Asia, Brittany, and Vista Residences are focused on residential property development, while Vistamalls is involved in commercial property development.

 

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