Vista Land and Lifescapes Inc. to invest P9.5B in Northern Mindanao
Economic boom continues to spur in Northern Mindanao frontier city of Cagayan de Oro and other areas in the region as a housing firm is set to construct P9.5-billion housing units.
Vista Land and Lifescapes Inc. (VALI) is also planning to establish real estate and other housing units at various areas in Northern Mindanao, particularly in the key cities of the region.
VALI’s investment in the region is expected to bring more tax revenues, income and employment generation to this already progressing region, especially in this region’s capital city.
Accordingly, the property holding firm investment is an affordable housing and it is programmed over the next three years to sustain a dominant position in the mass market segment amid stiffer competition.
This year alone, flagship subsidiary Camella Homes will roll out 22 new affordable housing projects or about 17,500 new housing units in different regions in Mindanao.
In a statement, capital spending on the 22 new projects by Camella Homes will reach between P1.5 billion and P2 billion this year alone. Total outlays for the next three years could reach P9.5 billion.
Camella president Maribeth Tolentino said the 22 additional projects in the pipeline for Camella would increase its total portfolio to 97 developments nationwide.
Related posts:
- Vista Land & Lifescapes, Inc reports core net income of P2.6B for 2009
- Megaworld Corporation allots P17B for 2010 capital expenditures
- Why Invest in Philippine Real Estate?
- Ayala Land to venture into economic housing development
- Highland Prime Inc. Philippines reports real estate sales of P1.1B for 2009
[...] the most popular housing project in the Philippines. To this end, Vistaland intensified its investment not only in Cagayan de Oro but in other regions as [...]