MANILA, Philippines – Rustan’s Fresh Supermarket will be the anchor store in the first commercial building in Vista Land Lifescapes Inc.’s flagship Evia project in Las Pi?as City.
In a disclosure to the stock exchange, Vista Land said it had signed a long-term lease agreement with Tantoco-owned Rustan Supercenters, Inc.
Vista Land has already developed about 300 hectares of land in Evia, where it offers residential house and lot units under its Brittany, Crown Asia, and a href=”http://privateshelter.com”Camella brands/a.
The deal with Rustan comes as the company moves towards commercial developments in Evia, as residential projects reach “critical mass.”
“Our company is pleased to be a partner with one of the country’s leading high-end supermarket chains, whose track record speaks for itself… We are extremely optimistic that Rustan’s will be very successful in Evia, and we look forward to other potential partnerships with the Rustan’s group in the future,” said Manuel Paolo Villar, chief executive officer of Vista Land, in a statement.
Rustan’s Supercenters, Inc. operates the Shopwise chain of hypermarkets and Rustan’s Supermarkets all over the country.
“We are very optimistic about this partnership. Vista Land’s track record of success and its vision of providing quality housing for all is congruent with our own vision of bringing quality goods and experiences to every market that we enter. We look forward to the success of this development and to future projects together,” said Donnie Tantoco, President and CEO of Rustan’s Supercenters.
Evia has been seeing strong demand from prospective locators, according to Maria Leni Luya, Vista Land’s head of commercial operations. a href=”http://blissful-weddings.com/fernbrook-gardens/”Fernbrook Gardens/a, a popular wedding and corporate events venue, is already operating in the area, while fast food giant McDonald’s is constructing a restaurant. It’s a strong testament that Evia is an attractive place to put up a business. The growth potential is excellent especially now that the number of residents is reaching a critical mass.
“In addition partnering with Rustan’s Supercenter, we are currently in discussions with several other major commercial operators who wish to set up shop in Evia,” Luya said.
With the goverment’s first public private partnership project involves constructing a road connecting the South Luzon Expressway to Daang Hari, Vista Land is confident this would have a great impact on the Evia project. It’s one of the most important development in the area. And with the completion of SkyWay , getting to and from Makati will be easy.
Vista Land is the holding company of five business units, Brittany, Crown Asia, Camella Homes, Communities Philippines, and Vista Residences. It is the Philippine’s largest homebuilder. It was incorporated on 28 February 2007 and was listed on the Philippine Stock Exchange on 25 June 2007. It is the market leader by far in terms of total number of houses built, having constructed more than 200,000 homes in 22 provinces in Luzon, Visayas and Mindanao.
Vista Land has demonstrated its continued confidence in the Filipino market through its plans for further expansion into new areas in the country. With the widest geographic reach among all property developers in the Philippines, the Company continues to solidify the status of “Camella” as a truly national brand.
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