Villar group allots P175-B capex until 2020

MANILA -- The Villar group of companies is allotting PHP175 billion in capital expenditures for the next three years, as it continues to grow its various businesses on the back of a strong economy.

Villar Group founder Manuel B. Villar Jr. told reporters about 60 percent of the total capital spending will be earmarked for real estate development, while over 35 percent for its leasing and retail business.

Villar said the group would spend PHP50 billion next year for the development of more shopping malls and residential projects, and for expansion of its home improvement, supermarket, bakeshop and coffee shop businesses.
 
“We are very bullish in the coming year as we take advantage of the various collaborations among our companies in addition to the sustained sound Philippine macroeconomic fundamentals,” he said.
 
Villar said Vista Land & Lifescapes would put up malls and residential projects in the countryside, while All Value Holdings Corporation aims to more than double the branches of Coffee Project to 45 to 50 next year.
 
He added branches of All Day convenience stores are targeted to reach 100 next year from the current 72 outlets, All Day supermarkets to 26 branches from 13 this year, and All Home from 26 to 28 depots next year from the current 16 branches.
 
Villar said it also aims to grow Georgia Academy from three schools to 13 next year to serve the growing needs of Vista Land’s residential developments,
 
The Villar Group will also expand Golden Haven Memorial Park by doubling the number of locations from the current 14 to around 28. (PNA)