Vista Land & Lifescapes Inc. said its township development in the southern part of Metro Manila, called Vista City, will help spur business activity in the area that is being transformed into an alternative central business district.
The company cited a paper from real-estate research firm Cuervo Far East that called southern Metro Manila as the Southern Manila West Growth Area, which covers parts of Las Piñas, Muntinlupa and Cavite on the west section of the South Luzon Expressway (Slex).
The P50-billion Vista City is right in the middle of the said growth area.
“The new Daang Hari-South Luzon Expressway, or Muntinlupa-Cavite Exit, is right smack into Vista City. At the same time, the existing Slex exits in Alabang and Filinvest are also near Vista City, which provide alternate access exit points,” the company said.
Cuervo said in its study published late last year that property prices in the area may double in five years, with high-end residential lots reaching about P100,000 per square meter by 2019.
Based on data from the Bureau of Internal Revenue, the firm said land values in select high-end villages increased from as low as P14,000 per sq m in 2009 to as high as P62,000 per sq m in 2014.
The study noted the various infrastructure projects that would boost accessibility and connectivity between the Southern Manila West Growth Area and Metro Manila. These include the Manila-Cavite Expressway, Slex-Daang Hari Road, Muntinlupa-Cavite Expressway and the Cavite-Laguna Expressway.
One of the components of the Vista City include the Ecohub, which will have several office towers that will be devoted to commerce and the business-process outsourcing industry, and is expected to generate employment for residents of Las Piñas, Muntinlupa and nearby areas like Cavite and Laguna.
Located along Daang Hari South, the first phase of Ecohub, which covers 10 hectares, is already under way, while the University Town will be the future location of colleges in the south of the Metro.
The company still has to announce which school will transfer to its location, aside from the existing ones. Vista City’s commercial, retail and entertainment complex, called Evia, is also being expanded to cater to the needs of the office buildings that it will construct.
Vista Land said it will launch new vertical and horizontal residential projects, which will cater to various income segments. These are in addition to the company’s existing and ongoing projects for the high-end market.
Vista Land Chairman Manuel Villar earlier said the company will go into operating its own chain of hospitals, schools and memorial parks to serve the needs of its communities. These ventures will all start in Vista City and will then be recreated to its other developments.
“I want us to be sort of a one-stop shop. But there are still many components missing. Eventually, we will have the full line of products,” Villar said.
The company has already started their hospital business in Vista City in Daang Hari, called VitaMed.
“We are starting small. About 150 beds but expandable to 300 beds. It actually has unlimited expansion possibilities since we have a large property in Daang Hari,” he said. Villar added that they have partnered with doctors for the hospital business and they will be providing the medical services.
The hospital business will be under a holding company of the Villar family, which will also own the school business so that it will be distinct from Vista Land and All Value Holdings Corp., which owns their retail businesses.
The family’s school business, called Georgia School, is starting as a primary school, but Villar said they will keep growing it until they can start offering college courses.