Vista Land and Lifescapes Inc. expects to earn about P1-billion additional annual revenues from the communities it is developing once it starts the commercial components of these projects.

In an informal meeting with the press, Vista Land president Benjamarie Serrano said the first three commercial centers will be built in Vista developments in Sucat, Sta. Rosa in Laguna and in Tagaytay.

“We intend to do more commercial development that are surrounded by communities,” Serrano said explaining that these are mature areas where the firm’s five property brands have already sold out most of their inventories.

She said the value of these properties are already high since the surrounding communities are already established, with some already 20 years old, thus providing a ready and captive market for their commercial outlets.

Based on Vista Land’s masterplan, these commercial areas will be allotted about 15 to 20 hectares each and will include retail outlets as well as office buildings for lease to the business process outsourcing industry.

“We definitely want to grow the leasing business for us to have a recurring income,” Serrano explained although she pointed out that they will start with the retail outlets first before developing the office spaces.

She said that since these are large tracts of land, the development will be more horizontal and will feature wet and dry markets, grocery stores, health and beauty service outlets, as well as restaurants and fastfoods.

Serrano hinted that among the anchor tenants in these commercial developments will be the Puregold chain of supermarkets.

The development of the leasing component is eyed to contribute about P1 billion in additional revenues, accounting for about 10 percent of the company's total revenues. The P1-billion mark is expected to be hit in three years’ time.