Vista Land and Lifescapes (PSE:VLL) announced plans to expand Lessandra, the low‐cost housing unit of Camella, with additional projects worth P12 billion nationwide this year.
Vista Land president Benjamarie Serrano said Lessandra P40 billion worth of from 2007 to 2010. VLL envisions that there will be a Lessandra presence in most Camella communities throughout the country.
Serrano explained that Lessandra was initially developed in 2007 as a Camella townhome series in response to the need for affordability in the low‐cost housing segment.
Camella serves the higher P1.2 million to P4 million per unit bracket while Lessandra caters to families looking to build a home in the P0.50 million to P1.2 million segment, but both are intended to embody practical and modern living standards and aim to provide friendly and accessible home environments for start‐up families.
Lessandra already has a presence in 18 key cities nationwide where it has launched 37 projects amounting to over 10,000 housing units developed over a total of 150 hectares of land. Serrano said Vista Land continues to be bullish about the prospects of Lessandra because it has gained strong market acceptance and its growing patronage has helped it to carve out its own niche where it is now the acknowledged market leader.
“Vista Land was the first to recognize the strong need for more home units in this segment and has been serving this market even when other property developers were focused on the middle to high‐end markets,” Serrano said.
She added that this segment continues to account for the biggest share of the housing backlog in the country and Vista Land remains committed to serve it by providing affordable, quality units.
(Source : April 25, 2011, PSE )
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