Buoyed by the recovering economy, the year 2022 is shaping up to be another record year for the Villar Group of Companies.
Manuel B. Villar, the Philippines’ wealthiest individual, is planning to aggressively expand his business empire next year as he sets to develop his unit of Real Estate Investment Trust (REIT).
In a press conference, late Friday, the property and retail tycoon disclosed that his group of companies — through listed real estate firm Vista Land and Lifescapes Inc. — is planning to debut its REIT firm at the Philippine Stock Exchange (PSE) by next year.
“I have many (REIT units) but I don’t know yet which unit will we offer publicly… But, yes we will have REIT offering next year,” Villar told reporters, adding that aiming to be the biggest REIT is not yet part of the company’s plans.
Villar said he planned to offer REIT this year but later on decided to prioritize the initial public offering of (IPO) of AllDay Marts Inc.
Alongside the REIT offering, Villar also bared a plan to list the Coffee Project chain at the local bourse through a “small offering.” With the current 64 branches of Coffee Project nationwide, he said his group will expand the coffee chain’s footprint to 100 stores by next year.
According to Villar, he is optimistic for his group’s future IPO plans, especially after the AllDay IPO shares received brisk market uptake from both local and foreign investors. In its first week of trading, AllDay Marts was one of the most actively traded stocks due to alluring expansion plans of the grocery retailer.
Apart from the IPO route, Villar is also paving the way for his biggest and most ambitious project to date. He is planning to develop around 2,000- to 2,500-hectare properties in the Southern part of Metro Manila into a new business district.
Although nothing is definite yet for the “Villar City,” the tycoon said funding for the project “would not be a problem.”
“This is going to be the biggest project in the South. We are consolidating farms in the Daang Hari area… This project has no official name yet,” the billionaire said.
Villar said Vista Land will develop the property, which can accommodate up to a thousand buildings. The new business district will also feature parks and plazas — including a so-called trading center of the South.
The pandemic has also prompted the Villar Group to explore new concepts and start new brands. This includes — Ruined Project, Napa, San Marco, Dear Joe, Roma, SOMO Market, Global Market, Green Centralle, Pet Buddies, KAL, No Name, AllGreen, Get All, AllAmerican, Shieldtech, Yummy Bakes, AllBikes, Pet Café, Crossings Café, Sombrero, AllDigital, Bread Basket and Boston Green.