THE JOINT VENTURE of Ayala Land, Inc. and the Rustan Group plans to spend about P80 million to build around 30 FamilyMart convenience stores by the end of next year, an official said on Friday.
RELATED STORIES
Next for Ayala unit: convenience stores
Ayala Land forays into convenience stores
Ayala Land issues first tranche of Homestarter Bonds
Improved Glorietta phases set to open by December
Ayala Land unit cites prospects south of NCR
“For the first year, next year, we’re aiming for an initial 30 [FamilyMart] stores. We’re still in the process of setting up the structures, and this is something that we feel is essential to enable us to develop more our mixed-use developments,” Jaime E. Ysmael, Ayala Land chief finance officer, told reporters following a public dialogue on foreign ownership restrictions at the Securities and Exchange Commission building in Mandaluyong City.
Last Tuesday, SIAL CVS Retailers, Inc. — a partnership between Varejo Corp. and Specialty Investments, Inc., wholly owned units of Ayala Land and Rustan-led Store Specialists, respectively — signed a shareholders agreement with Japanese firms FamilyMart Co., Ltd. and Itochu Corp. for the development and operation of FamilyMart stores in the country.
Taken from:
J.B.M.
Real Estate Broker
PRC License #: 7396
Member: Philippine Association of Real Estate Boards – City of Taguig Real Estate Board
P.S. Our mission is "to look for ‘tenants.’" If we have the same mission, let’s talk: 0939-922-2710.
Filed under: Real Estate Broker
Realty By JM 