VISTA LAND & Lifescapes, Inc. (VLL) is investing P20 billion to develop 32 condominiums under its new Camella Condo Homes (COHO) brand in 25 areas around the country.
VLL Chairman Manuel B. Villar, Jr. said the company is initially investing P10 billion for the first batch of COHO projects.
“We are ready to launch COHO in a big way, so we’re launching in 25 areas, 32 buildings… But this is just the start because just the land that we are making available to COHO in these areas, we can already build up to 150 buildings… We are starting with 25. It should double shortly, but dahan-dahan muna tayo [We’ll take it step by step],” he said during a media briefing at the Mella Hotel in Las Piñas City on Tuesday.
COHO is Camella’s brand for affordable condominiums. The projects will be complemented by either a Vista Mall or commercial strip featuring brands from VLL affiliate All Value Holdings such as Coffee Project, Bake My Day, All Day Supermarket, All Home and Vista Cinemas.
COHO projects in the pipeline are located in Antipolo, Bacolod, Bacoor, Baliuag, Bataan, Bohol, Butuan, Cagayan de Oro, Caloocan, Davao City, Dumaguete, General Santos, Iloilo, Imus, Las Piñas, Legazpi, Lipa, Mactan, Palawan, Pampanga, Subic, Tagaytay, Taguig, Tagum, and Talisay, Cebu.
At present, there are already 14 existing developments under COHO’s portfolio.
While other developers focus more on developing condominiums in the Metro Manila, Mr. Villar said the company will target the provinces.
“We feel now that we have to launch it systematically… sabayan ’to [at the same time]. This is not going to be in lieu of our existing companies… They will still continue their projects… Iba ’tong COHO [COHO is different]… We hope to become a major condo builder maybe next year, two [years] from now, but hopefully even as early as this year, we will become a major condo builder,” Mr. Villar said.
COHO units will have one-bedroom, 30-square meter (sq.m.) and two-bedroom, 40-sq.m. configurations, with prices ranging from P2.4 million to P3.3 million.
Amenities include a clubhouse, swimming pool, function hall, gardens, jogging paths, and a gym. — Vincent Mariel P. Galang