Property developer holds buyers’ night among OFWs

Philippine-based property developer Vista Land International Marketing, Inc. held a buyers’ night recently at the Sheraton Hotel Riyadh to offer its various residential and housing products to Overseas Filipino Workers (OFWs).
“We’ve always intended to reach out to the estimated 1.2 million OFWs in Saudi Arabia, but we waited for the right time. Now is the right time,” said Eda B. Tambologan, division head, on Sunday.
Twelve of the 300 OFWs who attended the buyers’ night signed contracts for different units offered by Camella Homes, Crown Asia, Vista Residences, and Brittany.
Vista Land also held a buyers’ night among OFWs in Jeddah last Thursday.
Tambologan said Camella Homes offers affordable housing units, and Crown Asia caters to middle-income families, while Vista Residences and Brittany target upper-middle-income OFWs. For a Brittany unit, such as a condominium, a buyer has to have a total monthly income of over SR 30,000.
Tambologan said that she and her team in the Kingdom led by Flore Bouzanne were optimistic about Vista Land’s operations in the country, based on the feedback she had received from the Filipino community in Riyadh and Jeddah.
“They were enthusiastic in meeting us during the buyers’ night, judging from the questions they asked and the number of OFWs who signed contracts for different residential units,” said Tambologan.
As a result of the encouraging response from the Filipino community, she said that Vista Land would set up an office in Riyadh next year to deal with OFWs in the Kingdom’s capital city. Offices in other major cities of the Kingdom will also be established later.
She said Vista Land had also started operations in other overseas locations like Europe (Rome, Milan, London, and Paris), Hong Kong, Singapore, and other countries in the Gulf including the United Arab Emirates (Dubai and Abu Dhabi), Qatar, and Kuwait.
“We’ll also set up operations in the United States soon,” she said.
Vista Land was launched in 2007, when it held an initial public offering and consolidated under it four erstwhile existing companies that had been engaged in property development. One of these is Camella Homes, which had been in the industry for 37 years.
She said that 60 percent of their customers are OFWs, and that Vista Land has a 60 percent market share of the property development industry in the country.
Vista Land projects in the Philippines are in the islands of Luzon, Visayas and Mindanao.