Vista Land & Lifescapes Inc. is bullish on its retail unit, All Value Holdings Corp., with the expansion of the company’s commercial spaces and available lots within residential developments.
Vista Land and All Value Chairman Manuel Villar Jr. has told reporters that the company will grow its retail business in the pace of expansion for Vista Land malls.
Villar said the company will be building 12 malls, with 10 of these to be operational by 2018, while the remaining malls will be opened by 2019.
Currently, Vista Land has 17 malls.
All Value’s retail chains include AllHome one-stop-shop home improvement depot, AllDay Supermarket, AllDay Convenience Stores, AllToys toy stores, AllShoppe department stores, Bake my Day bakeshops, and The Coffee Project coffee shops.
Villar said it will put up AllHome stores in each mall it will develop, and will be part of the first phase of the development. Other retail concepts will follow in the second phase.
“AllHome is doing very well. Right now, there are only 13 branches. We paused for a while but we are set to resume the opening of stores and we will ramp it to 25 by next year,” he added.
He said within Vista Land’s residential developments, the company allotted spaces for future commercial needs.
“Because our home buyers have many needs. They need commercial centers, hotels, coffee shops and supermarkets. So it’s a matter of fill-in-the-blanks at this time. We will fill-up these needs as we expand our retail portfolio,” the chairman noted.
Villar is also optimistic with its retail business due to increasing per capita income of Filipinos.
“I’m looking at a significant improvement in the lifestyle of Filipinos,” he said
“The prospects for our retail businesses are very good because I am very bullish about the Duterte Administration,” he added.
For its coffee shop, All Value aims to have 50 The Coffee Project shops in 2018.
“We can sprinkle our developments with Coffee Project because we have communities all over the country. We will end the year with only 25 branches but next year, we hope to double it to 50. And we’ll be coming up with a very aggressive growth rate,” Villar said.