Vista Land Plans To Adds 7 New Malls To Its Portfolio By 2020
Vista Land & Lifescapes Inc, one of the largest property companies in the Philippines, plans to complete seven new malls over the next two years that will add 274,000 square meters of gross floor area to its existing leasing portfolio of 1.16 million square meters comprising of 26 malls, seven office buildings and 50 commercial centres across the country.. In 2019, the company plans to complete the 54,000 sqm Vistamall North Molino phase 1 in Bacoor, Cavite, the 35,000 sqm Vistamall Mintal phase 1 in Davao City, the 40,000 sqm Vistamall Dasmariñas in Cavite and the 45,000 sqm Vistamall Sta. Maria in Bulacan.
In 2020, Vista Land expects the completion of the 40,000 sqm Vistamall Santiago, in Isabela province, the 40,000 sqm Vistamall Cabanatuan in Nueva Ecija and the 20,000 sqm Vistamall Butuan in Butuan City. The construction of these new malls will be funded with the PHP 10 billion (USD 190 million) worth of fresh capital that was raised via a bond offering in December 2018.
By 2020, Vista Land plans to operate 60 malls that are expected to generate a steady stream of leasing revenues for the company. The company has established presence in about 133 cities and municipalities across 46 provinces. It plans to focus on the development of integrated urban development combining lifestyle retail, prime office space, university town, healthcare, themed residential developments and leisure components.
(Source: Manila Standard)