Villar details All Home expansion; eyes eventual listing
MANILA, Philippines - Real Estate tycoon and former senator Manuel Villar Jr announced expansion plans for his newly formed retail business, All Value Holdings Corporation, with the view to eventually listing the company.
The group plans to open 6 to 8 All Home stores over the next 3 to 5 years, Villar said at the opening of its 8th branch.
Villar added that the group plans to list All Home once its store count reaches 30 to 40.
The 8th branch, located in Sta. Rosa, Laguna, occupies 10,500 square meters of space including construction materials, furniture, appliances and furnishings.
Four more outlets, including one in Imus and another one in Las Pinas, are slated to open this year.
The group is expected to have a total of 12 stores by the end of 2015.
Two of All Home existing stores, located in San Jose Del Monte, Bulacan and San Fernando, Pampanga, are also being expanded from their existing size of 3,000 square meters to 9,000 square meters.
Villar said the group will also start to expand All Home outside Luzon starting next year. Among the future sites being considered are Cagayan de Oro and Iloilo.
Excluding inventories, each All Home store costs as much as P300 million ($6.78 million) to build.
Villar earlier said the group’s venture into the retail business will complement its residential development business under Vista Land & Lifescapes Incorporated, which is launching 20,000 units annually.
Launched in August of 2013, All Home is a one-stop shop for home construction, renovation and decoration needs.
All Value Holdings Corporation is Villar’s holding firm for retail brands.
Aside from All Home, the group is also in the supermarket and minimart segments through All Day Supermarket and All Day Mart. – Rappler.com
$1 = P44.24
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