GQWEST Inc., the company that developed the Aquabest brand, recently sealed an agreement with SM Development Corp. (SMDC) to set up water stations in the real estate developer’s project.
The pilot store under the agreement is located in the Sea Residences development located in Macapagal Avenue, Pasay City.
The development is considered to be among SMDC’s “blockbuster” developments. The deal has huge potential to add to the company’s growth prospects not just in terms of store expansion, but also in terms of market shares as under the agreement the company’s franchisees will get exclusive rights to supply bottled water to the people living in the SMDC’s developments, GQWEST said in a statement.
Earlier, SMDC said that it would be spending P71 billion over the next three years until 2015 to develop new projects and expand its land bank. It was expected to roll out last year 13,000 new condominium units, the bulk of which are located in Metro Manila.
The new projects launched last year were Trees Residences and Grass Residences phase 2 in Quezon City; Shore Residences at the Mall of Asia complex; and Rich Residences in Mandaluyong City.
SMDC will also put up expansion towers at Wind Residences, Field Residences and Grace Residences.
Currently, SMDC has 15 ongoing residential condominium projects all over Metro Manila, with the exception of Wind Residences in Tagaytay City.
With the assumption of an average household size of three people per unit for the 13,000 condominium units expected to be rolled out last year translates to a captive market of 39,000 people for the water products of GQWEST.
Meanwhile, GQWEST, with its flagship brand Aquabest, is among 2013’s recipients of Entrepreneur Magazine’s Franchise Awards.
Aquabest is the largest water refilling store network in the country with more than 700 stores nationwide.