Vista Land and Lifescapes is spending P1.86 billion for two new low-rise residential condominium projects in Quezon City, the latest addition to its portfolio of 11 vertical homes.

The first project, Madison Place with a project value of P355 million, is now ready for occupancy after its completion last December. The second, Pine Crest with a project value of P1.5 billion, was launched last February.

After its entry into the vertical homes segment only three years ago, the holding group recently introduced Vista Residences, both as a new brand and business unit. Previously, the group’s condos were known under its Brittany, CrownAsia and Camella brands.

The initiative brings all Vista Land’s condo homes under a single marketing and sales entity, and signifies its commitment to a major presence in the segment, according to chief executive officer Jing Serrano.

“There is an upward trend in demand for condominium residences in highly urbanized Mega Manila, where land is scarce and lifestyle needs are changing. This demand means more potential for revenue and profitability, as sales in the segment continue to grow,” Serrano said.

She added that the low-rise designs of Madison Place and Pine Crest are attractive to a market niche, offering more breathing space and privacy than mid-rise or high-rise condominiums, on top of the conveniences, amenities and security of condo living.

“One of the value-adding elements of Vista Residences is the combination of features that gives each of our projects a distinctive character and a set of advantages,” Serrano said.

She said Madison Place and Pine Crest, both being low-density, provide a heightened sense of space, tranquillity, and community among residents in the metropolis. Since the projects are low-density, delivery of completed buildings is faster and unit owners benefit from early turnovers.

Apart from the two developments, Vista Residences has also demonstrated its dynamic operational tempo by topping off four other projects in January and February.

A fifth project, WIL Tower in Quezon City, was launched in December 2009. The first tower of another project, Symphony in Quezon City, was topped off in November, 2009.

“Generating a healthy bottom line for vertical home projects involves dealing with longer gestation periods and requirements that are different from those of horizontal homes. Of course you also need to maximize the use of resources, get the timing right, and put together a competitive package of values that sets you apart,” Serrano said.