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Vista Land closes lease deal with Rustan’s Supermarket

04/09/2012 [ tribune.net.ph ]

Listed home builder Vista Land and Lifescapes Inc. has recently concluded a long-term lease agreement with Tantoco-owned Rustan Supercenters Inc. Rustan’s Fresh Supermarket which will be the anchor in the first commercial building in Vista Land’s flagship “Evia” development located in Las Piñas City.

Vista Land has already developed about 300 hectares of land in Evia, where the company currently offers residential house and lot units under its Brittany, Crown Asia and Camella brands.

The company said that the move toward commercial developments in the area was part of Vista Land’s overall strategy since the residential projects already reached “critical mass.”

Vista Land CEO Manuel Paolo Villar said they are 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,” he added.

Meanwhile, Donnie Tantoco, Rustan’s Supercenters president and CEO, noted they 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 futureprojects together,” he said.

Founded in 1998, Rustan’s Supercenters Inc. operates the Shopwise chain of hypermarkets and Rustan’s Supermarkets. It currently operates over 30 stores nationwide.

Maria Leni Luya, Vista Land commercial operations head, disclosed that the Evia project in Las Piñas was seeing strong demand from other prospective locators. Danessa O. Rivera
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