Villar-led Vista Land and Lifescapes Inc. is planning to launch 44 estates or mixed-used urban developments in 23 key cities nationwide, cementing its position as a developer with the widest geographical reach.
Vista Land chairman Manuel Villar Jr. told reporters on Thursday in Bacoor City that the company will simultaneously launch the 44 estate projects “by the middle of this year.”
Villar estimated that the cost of investment per estate of an average of 100 hectares would be P136 billion.
The Philippines’ richest man said that 1,438 hectares of land will be developed into fully-integrated urban developments, comprising mostly vertical residences, retail, offices, leisure, healthcare, and educational institutions.
The 44 estates are spread mostly across Metro Manila (13), Luzon (13), and the Visayas (8).
Villar is banking on the country’s economic growth potential in the medium term.
“Malapit na tayo mag move up sa upper middle-income economy,” he said.
(We are close to moving into an upper middle-income economy.)
President Rodrigo Duterte’s economic managers said in January that the country would transition to upper-middle income country status within the year.
The World Bank defines an upper middle-income economy as a country which has a gross national income (GNI) per capita of between $4,096 and $12,695. —VBL, GMA News
Villar”s Vista Land set to launch 44 estate projects by mid-2022
Source: News Panda Philippines
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