By Katlene O. Cacho
Monday, December 19, 2011
ENCOURAGED by the country’s booming real estate industry, Camella, a subsidiary of Vista Land and Lifescapes Inc. (Vista Land) is set to launch 14 residential projects in new areas across the country in the first quarter of 2012.
Three of these projects will be in new areas in Cebu, a company official disclosed.
Camella Cebu North general manager Myra Lynn Gilig, in an interview over the weekend, said the company’s expansion is motivated by the country’s healthy real estate industry, supported by the growing overseas Filipino market.
Gilig noted 60 percent of the accounts of Camella are those of overseas Filipino workers.
The three new projects in Cebu, she said, are in addition to the company’s existing 33 projects here. She added the company will also be expanding their existing developments such as those located in Talisay City and Barangay Talamban in Cebu City.
Last Saturday, Camella launched four new model townhouse units at The Courtyards in Pasadena, an extension of its Pasadena community in Guadalupe, Cebu City.
The Courtyards in Pasadena will house a total of 24 three-bedroom townhouse units priced at P4.6 million to P7 million.
Interior design consultant Architect Michael Pizarro said the units are ideal for start-up or small families who wish to live in a private community.
“Our focus here is to provide a modern-day living space that is anchored on comfort and privacy,” Pizarro said, adding they have “stepped up” the idea of homes at the Courtyards to catch the attention of the discriminating market.
The house units at the Courtyards use neutral colors to promote laid-back living.
Among the project’s amenities is a swimming pool and community pavilion.
Camella Cebu already sold 40 percent of its units to mostly local buyers living in Cebu or neighboring islands.
Gilig said they are optimistic about the market considering that the project is strategically located, just minutes away from the city center. She added the low interest on home loans now being offered by banks has also helped them attract buyers.
Vista Land reported its sales for the third quarter reached over P6.2 billion, bringing the total sales for the first nine months of the year to P18.3 billion.
Vista Land chief executive officer Manuel Paolo Villar said the company is confident it would meet or even exceed its net income and sales targets for fiscal year 2011 despite market uncertainties.
For the first nine months of the year, Vista Land’s real estate revenues was at P9.9 billion while its net income stood at P2.61 billion. The company earlier said it is targeting about P3.4 billion in earnings and approximately P24 billion in sales for the full year.
“We have had three consecutive quarters of record sales, with the bulk accounted for by our flagship Camella brand. We expect to see continued strong sales performance for our company in the fourth quarter as demand for house and lots, particularly in the mid- to low-end segment of the market, continues to be robust,” said Ricardo Tan, Jr. Vista Land’s chief financial officer.
Vista Land is the holding company of five business units: Brittany, Crown Asia, Camella Homes, Communities Philippines and Vista Residences. For more information, pls call us at (032) 3181589 | +63917.3236123.
Published in the Sun.Star Cebu newspaper on December 20, 2011.
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