(Inside Retail Philippines | June 26, 2017)
All Value Holdings, the retail unit of Vista Land & Lifescapes, is planning to build 12 malls in the next two years.
It currently has 17 malls, and plans to expand mainly on space available within residential developments.
Vista Land and All Value chairman Manuel Villar Jr says 10 of the new Vista Land malls will be up and running by 2018, with the rest opening the following year.
All Value’s retail chains include AllDay Convenience Stores, AllDay Supermarket, AllHome home-improvement depot, AllShoppe department stores, AllToys, Bake my Day bakeries and The Coffee Project cafes.
Villar says it will have AllHome stores in each mall it develops, with 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 are set to resume the opening of stores, and will ramp it to 25 by next year,” he says.
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.”
Villar is also optimistic with its retail business because of the increasing per-capita income of Filipinos. “I’m looking at a significant improvement in the lifestyle of Filipinos,” he says.