August 18 - Vision Properties Development Corporation (VPDC) held its 2nd General Assembly, entitled “Building Your Vision to Reality” via Zoom.
During these interactive conversations, VPDC President and CEO Albert Ignacio gave updates on the continuity of operations, mid-year highlights, the results of the employee survey, and the overall direction of the company as it aims to finish strong this 2021. Also present were VPDC Director and Chief Finance Officer, Peter Tan-Chi, Jr. to give financial updates, and VPDC Director and Operations Head, Harrier Ongsun to give updates on operations. The three [Ignacio, Tan-Chi, and Ongsun] then spend a majority of the session answering live questions asked by VPDC employees -- from the head office to the various project sites.
Left to Right: Suntrust Shanata Team & SMDC Vine Residences
Quezon City
To improve the accessibility of these general assemblies, Project HRs also held watch parties at the project sites and offered to relay questions and concerns during the live question and answer portion to those who may not be able to join the Zoom hall.
Financial Performance
Performance met a slight decline particularly towards the end of the quarter, as different community quarantine restrictions were imposed along with the resurgence of COVID-19 cases. These have halted and/or has slowed down building activities in the region, and has hampered the movement of goods and people.
But as per Mr. Tan-Chi, the company will continue to strictly control costs and drive its revenues.
Key Highlights and Developments
VPDC is set to build the tallest residential condominium in Iloilo City, Terranza Residences. The project is a development of Cebu Landmasters, Inc. (CLI), a prominent real estate development company based in Cebu, that is engaged in the development of residential, office, hotel, mixed-use and township projects.
VPDC is also investing in various training and development opportunities for all its key employees. The management recognized those who have attended external training programs supported by the company and encouraged other employees to pursue other training and development opportunities as well.
As an ongoing effort to protect its employees and stakeholders, the management has been advocating vaccination through its employees' respective Local Government Unit (LGU) while the vaccines it has purchased has not yet arrived. It is also coordinating with the different LGUs for the possibility of vaccinating their workers on site. At the end of Q2, the management was happy to report that more than 50% of its core business employees have already been vaccinated against COVID-19.
Key Takeaways from Employees
On asking some employees on their key takeaways from the session, one said that
“Our management system is improving, and we just have to stay focused, on-track, keep having a positive outlook, and have a sense of ownership and responsibility to continue the growth and traction of VPDC.”
Others add that “we should take full responsibility or ownership of our work so that we can hit our target/goals of our project and future project” and “everyone should uplift or support each other for everyone's success.”
Moving Forward
Mr. Ongsun said that “going forward we really hope to be a preferred contractor, and exceed the expectations of our developers and clients”. For the remainder of 2021, the top 3 priorities of VPDC are “improving execution, higher productivity, and cash” for Mr. Ignacio, and “excellent execution, a culture of ownership, and securing projects for the coming year” for Mr. Tan-Chi.
Vision Properties Development Corporation (VPDC), is an engineering and construction company committed to building visions into realities. With over 10 years of experience, VPDC has a proven track record in the engineering, design, and construction of mid and high rise residential buildings, commercial and industrial projects, and site and utilities development. Differentiated by the quality of its people, VPDC has the relentless pursuit of excellence, a value-driven mindset, and the spirit of innovation. VPDC works to exceed expectations -- committed to delivering quality in every project, always safe, always reliable. For more information, visit www.visionpropertiesdevt.com.