Villar-led Vista Land & Lifescapes Inc. is considering the sale of two non-core shopping malls valued at as much as ₱15 billion as the property developer prepares for a major debt maturity next year.
In a disclosure to the Philippine Stock Exchange, Vista Land confirmed that a report by credit research firm CreditSights regarding the potential asset sales was “substantially correct.”
The planned divestment is part of the company’s efforts to strengthen its liquidity ahead of the maturity of its $420-million bond in July 2027.
“The company confirms that it is evaluating opportunities to monetize selected non-core assets as part of its broader capital and liquidity management initiatives,” Vista Land said in the filing signed by Chief Financial Officer Brian Edang.
The company said the review of potential funding sources is not expected to interfere materially with its existing operations.
“The company does not expect the evaluation of these potential funding alternatives, in itself, to have a material adverse impact on its ongoing business and operations,” Vista Land said.
Beyond selling selected properties, Vista Land said it is assessing other ways to raise or preserve funds, including using internally generated cash, securing bank financing, tapping the capital markets, and selling financial investments.
The company is also looking at the possibility of transferring assets to its publicly listed real estate investment trust, VistaREIT Inc., although any such transaction would depend on market conditions and the occupancy performance of the malls involved.
Vista Land said its review forms part of a broader effort to proactively manage its capital structure and liquidity position. It assured investors that the measures being evaluated are not expected to disrupt its regular business activities.