Vista Land’s assets total P43.2B
Philippine Daily Inquirer
MANILA, Philippines—Sen. Manny Villar’s Statement of Assets, Liabilities and Net Worth (SALN) in 2008 showed he owned 99.99 percent of Adelfa Properties Inc. and 97.88 percent of Fine Properties Inc.
Combined, both firms own more than half (58.1 percent) of Vista Land & Lifescapes Inc., according to the Philippine Stock Exchange. Adelfa owns 33.9 percent of Vista Land’s outstanding stocks while Fine Properties owns 24.2 percent.
Vista Land was incorporated on Feb. 28, 2007, as an investment holding company. It operates through four distinct business units: Brittany, Crown Asia, Camella Homes, and Camella Communities. The business units are involved in various real estate markets ranging from the low-cost housing segment to the high-end market offering luxury homes.
Vista Land and its subsidiaries’ projects include Portofino, Crosswinds, Maia Alta, Ponticelli, Tierra Nevada, Pacific Residences, Wedgewood and Plantacion Meridienne.
The company had total assets of P43.2 billion in 2009.
In March this year, Vista Land said it was allotting P10 billion to launch 30 projects for 2010, bringing its real estate portfolio to a total of 157. The projects cover 19 provinces and 46 cities and municipalities nationwide.
Vista Land’s board of directors consists of Marcelino C. Mendoza (chair), Benjamarie Therese N. Serrano, Cynthia J. Javarez, Manuel Paolo Villar, Mark Villar, and independent directors Ruben O. Fruto and Marilou O. Adea. Its officers are Serrano, president and chief executive officer; Javarez, treasurer; and Manuel Paolo, chief financial officer. Manuel Paolo and Mark are Villar’s sons. Inquirer Research
Sources: Sen. Manny Villar’s baseline SALN, Vista Land & Lifescapes Inc. official website, Securities and Exchange Commission and Philippine Stock Exchange