Manny Villar sets P175B capital spending program for real eatate business
The Villar Group of Companies has earmarked P175 billion over the next three years for the continued expansion of its residential, leasing and retail 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,? said Manuel Villar, the founder and chairman of the Villar Group.
About 60 percent of the programmed budget will go to real estate development, while over 35 percent will be channeled to its leasing and retail business.
For this year alone, it is spending P50 billion to build more shopping malls and residential projects in the countryside.
Villar seeks to more than double the branches of its Coffee Project to 50. He also plans to boost his convenience store chain to 100 next year from the current 72.
The expansion also involves the construction of additional supermarkets to double the existing 13.