Vista Land reports 11% net income growth for H1 2024

Vista Land and Lifescapes reported a 11% increase in net income to P6.4 billion for the first half of 2024, driven by increased sales from key projects.

Sales grew by 8% to reach P19.9 billion, with real estate sales rising by 20% to P9.62 billion and rental income increasing by 7% to P8.5 billion.

Reservation sales climbed 10% to P39.2 billion as the company launched projects worth P22.2 billion nationwide.

Vista Land now manages over 1.6 million square meters of gross floor area across more than 100 commercial properties, including malls and office buildings.

The company's chairman Manuel Villar Jr. expressed satisfaction with the performance in the first half of 2024, attributing it to their strategy of asset maximization through Vista Estates, which now encompasses 26 locations nationwide.

Vista Land has zero exposure to Philippine Offshore Gaming Operations (POGO) and stated that the recent ban on POGO operations had no impact on its business.