‘Remittances growth a boon for Vista Land’
VIllar-led property developer Vista land and lifescapes Inc. said it is still optimistic about its performance for the remainder of 2021 due to strong remittances from overseas Filipino workers (OFW), who comprise more than half of its buyers.
“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 remittances and the ramping up of the vaccination rollout across the country,” company chairman Manuel B. Villar Jr. said.
“I founded Camella Homes more than 40 years ago to help out fellow Filipinos—with an OFW as our very first homebuyer—to buy a place they can call their own and 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.”
The Bangko sentral ng Pilipinas recently reported that remittances from overseas Filipinos grew by double digits for the second straight month in May, when it expanded by 13 percent year-on-year, bringing year-todate OFW remittance growth to 6.6 percent.
The growth in remittances bodes well for Vista land as 55 percent to 60 percent of its buyers are Filipinos working or living overseas.
Vista land, together with the property brands from the Villar Group recently held its first and biggest virtual property exposition that showcased its complete real property offerings from various price points across the Philippines.
“The Vicon is just one of the ways we navigate through these challenging times and we are looking at breaking more digital ground in the future,” Manuel Paolo a. Villar, Vista land president and CEO said.
such exposition, he said, was a success as it reached thousands of property seekers and investors alike. From finding the ideal site to property acquisition, to saving and financing, to decorating and interior designing, the digital convention offered a selection of seminars and tips for homebuyers.
Vista land said it envisions staging more virtual expositions like The Vicon to provide needed information and support to future homeowners and investment seekers.