By Richmond Mercurio (The Philippine Star) | Updated April 27, 2015 - 12:00am
MANILA, Philippines - Real-estate tycoon and former Sen. Manuel B. Villar Jr. plans to conduct an initial public offering (IPO) for his All Home brand within the next three years as he aims to grow the branch network of the one-stop home improvement store to as many as 40 branches by 2018.
Villar, chairman of Vista Land and All Value Holdings Corp., said he is speeding up not only the expansion of All Home branches nationwide but also the brand’s possible debut in the local stock market.
“Five years is too long, I’m accelerating it so hopefully within three years,” Villar said of All Home’s planned IPO.
The Villar Group is prepared to spend as much as P12 billion over the next five years to open six to eight All Home outlets nationwide every year.
“In the next five years we will be ramping up the establishment of more All Homes. Minimum is six to eight stores per year nationwide. That is at least for the next five years because we still have a lot of available areas. We are just starting,” Villar said.
All Home, a one-stop shop home construction, renovation and decoration provider, currently has eight stores following the launch of its biggest store in Sta.Rosa City, Laguna last week.
The Sta. Rosa branch occupies 10,500 square meters of space dedicated to an extensive collection of home improvement items and services.
Within the year, Villar said four more new All Home branches would open while two existing ones would be expanded.
New stores will open this year in Imus, Las Piñas, Bataan and Antipolo while the branches in San Jose del Monte, Bulacan and San Fernando, Pampanga will be expanded.
An All Home store with an average leasable space of 9,000 square meters would cost about P270 million to P300 million to put up.
By next year, Villar said All Home would start expanding outside Luzon with branches eyed in major cities such as Cagayan De Oro, Iloilo, and Davao.
“I think our timing with All Home is just perfect. Every store we open is better than the previous one,” he said.
Other existing All Home branches are currently located in Muntinlupa, Taguig, Bulacan, Pampanga, and Daanghari.