04/27/2012 [ tribune.net.ph ]
Listed homebuilder Vista Land and
Lifescapes Inc. has signed long-term lease agreements with listed retail firm
Puregold Price Club Inc. for commercial establishments in its developments in
the provinces.
The lease agreements will allow
Puregold to establish and operate a Puregold hypermarket in San Fernando,
Pampanga and a Puregold Junior in Antipolo City, Rizal.
The new agreements form part of a
long-term partnership established between Villar-controlled Vista Land and
taipan Lucio Co’s majority-owned Puregold Price Club Inc. as Puregold is
expected to be the anchor tenant in the Community Malls set up by Vista Land.
The two companies already have an
existing agreement, which has enabled Puregold to operate a highly successful
supermarket in Vista Land’s 60-hectare Lakefront Development in Sucat,
Muntinlupa city, where in the latter has already developed more than half of Lakefront
in Sucat, where it currently offers residential house and lot units under its
Brittany, Crown Asia and Vista Residences brands.
The company said that in conjunction
with its strategy to expand its residential projects around the country, it has
already begun to execute plans to build a leasing portfolio by launching major
commercial developments within close proximity to its residential subdivisions
around the country.Vista Land CEO Manuel Paolo Villar said they have had a
mutually beneficial relationship with Puregold and they are extremely grateful
that they have agreed to partner with the company. “Our company looks forward
to strengthening our alliance with Puregold and we will certainly continue to
seek opportunities to work with Puregold on other ventures around the country.”
he added.Vista Land head of commercial operations Ma. Leni Damasco-Luya said
the Community Malls would be located in front of established Vista Land
communities in densely populated areas surrounding Mille Luce in Antipolo,
Rizal and Andalusia in San Fernando, Pampanga.
Merchants in these areas will cater to
the basic needs of an existing broad and underserved market.
The spaces will be premium spaces,
with lots of greens and fronting the parking lot, convenient access and
flexible mall hours.Vista Land is the holding company of five business units,
namely Brittany, Crown Asia, Camella Homes, Communities Philippines, and Vista
Residences.
The country’s largest homebuilder with
the widest geographic reach among all property developers, Vista Land is
recognized for its themed and masterplanned communities that offer quality
housing across all market segments in Luzon, Visayas and Mindanao.*Danessa O.
Rivera
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