Vista Land & Lifescapes, Inc., one of the country’s leading integrated property developers and the largest homebuilder, expressed optimism about the recovery of the real estate industry next year.
Vista Land chairman Manuel Villar said while lthe easing and residential businesses were affected by the pandemic in 2020, these sectors were expected to recover as the economy continued to reopen. He said the group was showing an upward trend in terms of reservation sales which already reached 70 percent of pre-COVID level.
This positive trend prompted the company to restart launching residential projects from current land banks. Villar also reported a pick-up in sales from overseas Filipino workers who account for as much as 60 percent of Vista Land sales.
“The resiliency of the overseas Filipino remittance, which amounted to $24.6 billion and were down only 1 percent as of end-October 2020, helped in the sales uptrend,” Villar said.