All Value Holdings Corp. Chairman Manuel B. Villar Jr. told reporters last Friday Vista Land plans to put up commercial centers filled with All Value retail concepts in all 200 cities and municipalities where the real estate developer will build projects over time, serving the needs of its residential communities and setting a benchmark for other tenants.
“Because our homebuyers 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,” Mr. Villar said.
All Value’s retail brands include AllHome home improvement depot, AllDay Supermarket, AllDay Convenience store, AllToys, AllShoppe department store, Bake my Day bakeshop and The Coffee Project.
In expanding the retail business, the former Senate president is encouraged by the rising incomes of Filipinos as economic growth shifts into high gear, creating demand for upscale concepts.
“The prospects for our retail businesses are very good because I am very bullish about the Duterte administration,” Mr. Villar said.
Under its new model, Vista Land starts the first phase of its new malls with the opening of a sizeable AllHome store as anchor tenant before the other retail concepts come in during 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,” Mr. Villar said.
The expansion of AllHome took a breather to accommodate the increase in size of existing stores due to higher demand for more products by both suppliers and consumers.
All Value is also ramping up the expansion of The Coffee Project to 25 branches by the end of the year and 50 stores by next year.
The company also plans to open a department store in every Vista Mall and put up six supermarkets this year in addition to the existing six branches.
by Land Asia Listings
