MANILA — Villar family’s Vista Land and Lifescapes, Inc. will be venturing into tourism and industrial developments over the next five years.
Vista Land President Manuel Paolo Villar said in an interview that the company would take advantage of the robust tourism industry of the country, with the increasing tourist arrivals — mostly from China — and growth in infrastructure projects.
“We’re very bullish on tourism. As you know the Chinese has been more open to come to the Philippines. I think there have been more and will be more Chinese tourist arrivals in the Philippines, so you’re looking at the big growth in tourism,” Villar told reporters.
“You’re going to see an increase, even some of the other less well-known tourist areas are becoming more well-known. So I think, we’re just going to participate in that,” he added.
He mentioned that Vista Land aims to build hotels in its bigger develop-ments.
Vista Land develop-ments are now in 117 cities and municipalities across the country. It targets to be in 200 locations this year.
“Some hotels will be owned by Vista. Some hotels, not and will be managed by others. Some will be even owned by others, not just be on our property,” Villar said.
“We’re looking at the next three years for hotels,” he added.
When asked if the company is open to gaming ventures, Villar noted that “it is possible”, but only as potential tenants of its integrated resort projects.
“We are not averse to gaming. It’s possible. Not necessarily Vista Land. I’m not sure Vista Land would be a gaming company but as a lessor as someone leasing to gaming company or buildings with gaming, it’s possible,” he said.
Moreover, in the next five years, Villar mentioned that Vista Land is seen to go into industrial estates by developing economic zones across the country.
Villar added the company is looking for partners for industrial developments in the future.
“Right now we’re residential, commercial, and office. We’re venturing tourism, as you know, and eventually we’ll probably some of industrial also,” the company said.