July 30, 2014

VLL launches Vista City

In a press statement, Vista Land and Lifescapes Inc (VLL) said it has launched township project billed as Vista City which include a commercial business district in southern Mega Manila. It will feature lifestyle retail, prime office space, university campus, themed residential development and leisure components over a 100 hectare property.

When completed, the project will have 120,000 sqm in gross floor area for the mall and retail component. About 10 hectares of the property will also be devoted to a business and commercial district, with the phase one seen to commence operations by 2H16.

Our take: While the project features a relatively modest leasable asset component, this nonetheless should enable the company to create sources of recurring income and improve its revenue mix. More importantly, the creation of a significant commercial component over the company’s landbank in southern Mega Manila may help spur asset reflation that could provide a boost to its net asset value and lead to a rerating of its shares.– WealthSec