Villar group’s retailer infuses P1.2B into capex

The Villar group’s retail arm All Value Holdings Corp. will invest P1.2 billion as capital expenditure to bring total AllHome appliance and furnishings stores to 20 by the middle of next year, optimistic about growth prospects of the home-improvement business. 

All Value Chairman Manuel B. Villar expects sales can double this year, as the business tracks the growth of the housing sector.

“The home-improvement is part and partial of the whole housing sector. After the housing sector booms, the home-improvement segment follows,” he told reporters on the sidelines of the opening of its 13th AllHome store in Antipolo City on Friday.

Villar bared that seven more stores will be located mostly in Mega Manila; one will be in Iloilo.

Investment for putting up about two-story store costs about P200 million, he said.

Villar added the target 20 stores by middle of 2017 will provide 220,000 square meters in gross floor area of retail space.

Apart from constructing new AllHome stores, he said the company has also expanded its existing stores in Taguig; San Jose del Monte, Bulacan; and Cebu.

Villar said they are also expanding their store located in Daang Hari in Cavite from 13,000 square meters to 18,000 square meters to make it AllHome’s flagship site.