Vista Land & Lifescapes, Inc. (VLL) has secured a loan worth P3.4 billion to repay existing debts.

In a stock exchange report on Tuesday, the Villar-led property developer said the loan, with a term of up to three years, was obtained through its subsidiaries Vistamalls, Inc., Brittany Corporation, Camella Homes, Inc., and Crown Asia Properties, Inc.

VLL did not disclose the lender or further details on the terms, but said the proceeds will be used to refinance existing obligations.

In June, the company also secured financing through shareholder advances to fully repay its P10-billion retail bonds to support the scheduled settlement of the debt. 

Last year, VLL posted an 11 percent rise in net income to P9.36 billion in 2024, from P8.45 billion in 2023, driven by stronger real estate sales and lower operating costs.

Real estate revenue grew 9 percent to P16.63 billion, helped by faster project completion and recognition of financing components. Rental income rose 4 percent to P16.61 billion, but other income sources, including hotels and parking, dropped 20 percent to P1.69 billion.

Gross profit surged 30 percent to P11.83 billion, while cost-saving measures led to a 20 percent cut in the cost of sales. Operating expenses fell 8 percent to P10.69 billion.