Vista Land & Lifescapes Inc., the property arm of business tycoon Manuel Villar, reported a 5 percent increase in net income for the first quarter of 2025 driven by strong real estate revenues and higher rental income.
Net income amounted to P3.40 billion from P3.23 billion in the same period last year, the company in a financial report filed with the Philippine Stock Exchange said.
First quarter revenues from real estate sales rose to P5.85 billion, a 5 percent increase from P5.56 billion a year earlier.
The property firm attributed the growth to a higher completion rate of sold units across its business segments and the recognition of a significant financing component, in line with its use of the percentage of completion method in revenue recognition.
Among its business units, Crown Asia posted the highest growth, with revenue jumping 67 percent to P740 million, fueled by more completed or under-construction homes in Mega Manila’s upper middle-income residential segment. Vista Residences, the company’s unit focused on vertical projects, recorded a 7 percent increase in revenue to P1.51 billion, while Brittany, targeting the upscale market, saw revenue grow 20 percent to P573 million.
Communities Philippines and Camella also posted modest gains.
Communities Philippines, which caters to affordable housing outside Mega Manila, reported a 4 percent increase in revenue to P2.08 billion while Camella’s revenue inched up to P1.36 billion from P1.35 billion.
Meanwhile, rental income grew by 4 percent to P4.35 billion, mainly due to higher rental rates during the quarter.
Despite a 12 percent increase in the cost of real estate sales to P2.01 billion due to the increase in the number of sold homes completed or under construction, Vista Land’s overall cost and expenses remained manageable.
Operating expenses dropped 16 percent to P2.38 billion, while total costs and expenses decreased 5 percent to P4.39 billion.
Vista Land’s subsidiary VLL International, Inc. obtained a $150 million syndicated term loan facility at a rate of 6.40509 percent per annum early this month.
The loan agreement was signed with Sumitomo Mitsui Banking Corp. Singapore Branch and Sumitomo Mitsui Banking Corp.
