VISTA Land & Lifescapes, Inc. remains optimistic for its businesses, banking on the improved overseas Filipino remittances as well as the country’s coronavirus disease 2019 (COVID-19) vaccination program.
“While COVID-19 continues to impact our performance, both on our leasing and residential businesses, we still anticipate a better year with indicators such as strong overseas Filipinos (OF) remittances and the ramping up of the vaccination rollout across the country,” Vista Land Chairman Manuel B. Villar, Jr. said in a statement on Tuesday.
The Health department said on Monday that 17,202,421 jabs had been administered. Of these, 11,113,107 account for first doses, while 6,089,314 are said to be fully vaccinated.
An average of 300,880 COVID-19 vaccine doses had been administered daily in the past seven days.
Meanwhile, the Bangko Sentral ng Pilipinas reported earlier this month that cash remittances from overseas Filipinos climbed by 13% year on year to $2.382 billion in May from $2.106 billion a year ago. The latest figure is also a 3.34% increase from the $2.305 billion logged in April.
Vista Land said this “bodes well” for the company, as sales to overseas Filipinos account for around 55% to 60% of the total.
“I founded Camella Homes more than 40 years ago to help out fellow Filipinos — with an OFW (overseas Filipino worker) as our very first homebuyer — to buy a place they can call their own,” Mr. Villar said.
“I am just so glad that four decades after and even with an ongoing health crisis, here we are, still building the best homes for our kababayans (countrymen),” he added.
Vista Land recently held a virtual property expo, which also featured other property brands of the Villar group. The company said it was able to reach thousands of property seekers and investors.
Vista Land President and Chief Executive Officer Manuel Paolo A. Villar described the event as “just one of the ways we navigate through these challenging times.” He said the company is looking at breaking “more digital ground in the future.”
Vista Land shares at the stock market on Tuesday went up by 2.35% or eight centavos, closing at P3.49 apiece. — Keren Concepcion G. Valmonte