Realty By JM

Salt and Light of Philippine Realty

Ayala enters convenience store business named FamilyMart

An ALI- Rustans joint venture firm has signed a deal with Family Mart Co. Ltd. and Japanese conglomerate Itochu Corp. for the development and operation of Family Mart convenience stores in the Philippines, thereby giving competition to the 7-Eleven and Mini-Stop chains.

“The partnership, which combines ALI’s expertise in developing mixed-use developments and its retail partners’ proven track record in the business, will enable ALI to provide a retail format that will support its mixed-use communities and at the same time, grow its recurring income portfolio,” ALI said in a disclosure to the Philippine Stock Exchange.

ALI entered into the partnership with FamilyMart and Itochu through their equally owned joint venture firm SIAL CVS Retailers, Inc. (SIAL).

Taken from:

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Filed under: Real Estate Broker

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