It did not deny, nor confirm any such transaction.
In a statement to the Philippine Stock Exchange, Vista Land, Inc. (VLI) replied to the report by Bilyonaryo regarding the supposed sale of its Vista Mall property in Sta. Rosa, Laguna.
The said piece supposed that the company, owned by the Villar Group, is already selling the property to prospective buyers for PHP 8 billion.
Vista Land said in its response: “The Company continuously evaluates various strategic alternatives involving its real estate portfolio in the ordinary course of its business, taking into consideration prevailing market conditions, asset valuations, occupancy levels, and its overall business objectives.”
It also noted that it continuously evaluates various funding and liquidity management alternatives in the ordinary course of its business to ensure that it remains well-positioned to meet its financial obligations.
“Any potential transaction involving the Company’s properties would be subject to appropriate evaluation and consideration of the relevant commercial, financial, and strategic factors,” it added.
Prior to this, VLI confirmed that it is considering the sale of two non-core malls for up to PHP15 billion as it explores funding options ahead of a US$420-million bond maturity in July 2027.
Although, it clarified that it continues to evaluate various strategic alternatives involving its retail assets, such as potential transactions involving VistaREIT, Inc.—which will take into consideration prevailing market conditions, asset valuations, occupancy levels, and the interests of the company and its shareholders.
Likewise, they are also evaluating other potential sources of liquidity such as the monetization of financial investments, bank financing, and other strategic alternatives, as appropriate.
